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...“Bank tellers are not having their pay cut.” Average pay for all employees at three of the brokerages, CICC, Shenwan Hongyuan and Huatai, edged higher in 2023....
...Shares in the Swiss bank, Julius Baer, slid nearly 20 per cent last month over fears about its SFr600mn of lending to Signa. The bank has repeatedly said it is well-collateralised....
...Six months ago, Julius Baer’s chief executive, Philipp Rickenbacher, was riding high on the bank’s new status as the second-biggest wealth manager in Switzerland....
...As a result of the biggest crisis to hit the bank in at least five years, Julius Baer reported SFr454mn of profit in 2023 — down from SFr950mn a year earlier — and earnings per share of SFr2.21, down 52...
...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....
...Julius Baer appears to be one of them. A trading update included large provisions and a hit to profits on Monday....
...“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....
...As chief executive, and with Finma investigating Julius Baer’s exposure, Rickenbacher was the fall guy....
...We had expected the Swiss bank and wealth manager to gather rather more of the assets shaken loose by the acquisition. Instead, this week Julius Baer took a SFr70mn ($79mn) write-off....
...Swiss private bank Julius Baer offered shelter to wealthy clients fleeing troubled Credit Suisse and its takeover by UBS....
...Rickenbacher said Julius Baer was focused on organic growth, downplaying the chances of the bank making acquisitions in the near future despite its strong financial position....
...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....
...“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...
...jobs Santander earnings boosted by strong performance in Europe Julius Baer’s profits tumble 52% as Signa hit triggers CEO exit Turkey’s central bank rocked by another leadership shake-up US and UK...
...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....
...The outcome comes after the pair earlier this year replaced a €354mn loan from Julius Baer, the Swiss bank, with a short-term shareholder loan of €364mn at the end of August....
...Julius Baer declined to comment. The €354mn Julius Baer loan was initially extended for two weeks before it was refinanced....
...Among the high-profile victims is Switzerland’s Julius Baer....
...Switzerland’s Julius Baer reported a more than 50 per cent drop in its profits on Thursday after it wrote off SFr606mn ($700mn) from its exposure to Signa, the crisis-hit Austrian property group....
...“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....
...Gregory and Vera deposited $38mn at 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...
...Lenders to Signa include Austria’s Raiffeisen and Erste Group and Switzerland’s Julius Baer....
...Switzerland’s Julius Baer confirmed some SFr600mn of exposures to Signa Group earlier in the week. Sweden is calmer, but bank investors may still suffer a rude awakening....
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