A former Julius Baer banker accused of passing sensitive data to WikiLeaks has been given a 14-month suspended sentence after a Zurich court turned down prosecution demands that Rudolf Elmer be convicted of breaching Swiss bank secrecy laws despite being based in the Cayman Islands, according to media reports.
Swiss wealth manager Julius Baer Group has hired several private bankers from HSBC to bolster the firm’s Latin American business, according to media reports.
Swiss private banking group Julius Baer has completed its acquisition of Commerzbank International S.A Luxembourg (Cisal), a fully-licensed private bank located in the Duchy.
Architas has named a Barclays managing director and chief investment officer as its new chief investment officer, while Julius Baer has added an executive director to its Guernsey team. AllianzGI is strengthening their alternatives pillar, with L&G bidding farewell to its chairman.
A host of changes have been announced by Schroders, as the company adjusts to the pending retirement of its global head of distribution. Julius Baer has also had to tweak the management structure of its investment solutions group following a departure. But Julius Baer’s loss has been Credit Suisse’s gain.
Schroders confirmed two senior appointments despite public protestations, while Julius Baer has revamped its UK front office. Aberdeen AM has poached its new Asia Pacific head of multi asset from Alliance Bernstein, with Providence creating a new regional director role in Asia.
Swiss private banking group Julius Baer has strengthened its Channel Islands offering by adding five heavyweight private banking and investment management professionals to its Guernsey operation.
Swiss private banking group Julius Baer has acquired an additional 60.1% stake in Milan-based Kairos Investment Management for €276m (£220.9m, $314.3m), taking its total ownership to 80%.
Singapore’s DBS Group is reported to be the front runner to buy Barclay’s Hong Kong and Singapore private wealth units, reports the Straits Times.
Singapore’s DBS Group and Oversea-Chinese Banking Corp (OCBC), and Swiss-headquartered Julius Baer have reportedly submitted non-binding bids for Barclay’s Asian private wealth business, reports Reuters.
Swiss private bank Julius Baer said it has reached a deal with the US Department of Justice to pay $547m to settle tax evasion allegations, and at the same time two former Julius Baer bankers pleaded guilty to helping American clients dodge taxes.
Swiss private bank Julius Baer named its new chief executive for the UK and Ireland, while Legal & General promoted from within to fill its Cofunds chairman role. Emirates NBD appointed a new wealth management chief investment officer, Vestra Wealth added to its private office, and SBG appointed a new head of lender relationships.
