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...Julius Baer also confirmed on Thursday morning the departure of chief executive Philipp Rickenbacher, which was reported by the Financial Times and other media outlets on Wednesday....
...But Julius Baer stayed with Signa, which by now accounted for more than a third of its private lending book....
...Julius Baer was hit by a 52 per cent fall in annual profits as the Swiss wealth manager announced it was writing off its SFr606mn ($700mn) exposure to the crisis-hit Signa property group....
...Swiss financial regulator Finma, which has been investigating Julius Baer’s exposure to Signa, is also stepping up its probe. Julius Baer declined to comment....
...Baer should quantify its single client exposures. That would be one way to settle the market’s nerves....
...Julius Baer is to review its private debt business in the wake of the financial crisis surrounding Austrian property group Signa....
...“What collateral does Julius Baer hold and how much is it still worth?”...
...Julius Baer shares fell 10.5 per cent, hitting their lowest level in just over a year....
...“Young collector groups assume that new collectors are young, but they could easily be in their fifties or sixties,” says the art adviser Josh Baer, who writes The Baer Faxt, a popular newsletter for the...
...Another deal, UBS’s purchase of Credit Suisse, meanwhile poses challenges for Julius Baer....
...Shareholders were then disappointed when fresh assets trickled rather than flooded into Baer’s vaults....
...Julius Baer, Switzerland’s third-largest bank, took on SFr9.2bn ($10.6bn) in new money following the near collapse of rival Credit Suisse in March....
...As chief executive, and with Finma investigating Julius Baer’s exposure, Rickenbacher was the fall guy....
...Julius Baer reported a core equity tier one capital ratio — a key measure of balance sheet strength — of 15.5 per cent, up from 14 per cent at the end of 2022....
...campaign against her BNP Paribas shares fall after downgrade to profit target Deutsche Bank pledges to boost dividend and cut jobs Santander earnings boosted by strong performance in Europe Julius Baer...
...In October, Swiss banker Benjamin G, a former employee of Julius Baer, was found guilty of stealing more than SFr22mn from the savings of an elderly Israeli-Ukrainian couple....
...Among the high-profile victims is Switzerland’s Julius Baer....
...The filing will raise concerns for dozens of European banks, including Switzerland’s Julius Baer and Austria’s Raiffeisen, over their exposures to Signa and Benko, which have sent shares tumbling in recent...
...Baer was changing fast, however....
...“We take these allegations [from Hindenburg] seriously,” said Cengiz Sen, an analyst at Swiss bank Julius Baer, which is also a client of the company....
...He’d been made chief executive of Switzerland’s third largest private bank, Julius Baer, at just 34....
...Lenders to Signa include Austria’s Raiffeisen and Erste Group and Switzerland’s Julius Baer....
...Julius Baer declined to comment. The €354mn Julius Baer loan was initially extended for two weeks before it was refinanced....
...We had expected Julius Baer, Switzerland’s largest private bank, to reap a big dividend in new business from displaced Credit Suisse clients....
...Norbert Rücker of Julius Baer said “the key question is how lasting these safe-haven flows are”, which depends on whether the violence in the Middle East represents a “tectonic shift” in geopolitics or not...
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