FINMA lifts ban on acquisitions Mittwoch, 31. März 2021 - 07:00

Zurich, 31 March 2021 – Julius Baer has been informed by FINMA that it is formally lifting the ban imposed in February 2020 on the execution of acquisitions that lead to a significant increase in operating risks and in organisational complexity (FINMA press release of 20 February 2020).

This decision is based on a status report from FINMA's mandated auditor, which is supervising the implementation of the measures ordered by FINMA and the Bank's own measures.

FINMA will continue to closely accompany Julius Baer until the full implementation of these measures through the mandated auditor and additional supervisory measures.

Julius Baer welcomes the lifting of the ban on complex acquisitions given the significant progress the Bank has made in strengthening its company-wide risk management, particularly with regard to money laundering prevention.

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About Julius Baer

Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. At the end of 2020, assets under management amounted to CHF 434 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.

Julius Baer is present in over 20 countries and more than 50 locations. Headquartered in Zurich, we have offices in key locations including Dubai, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Mexico City, Milan, Monaco, Montevideo, Moscow, Mumbai, São Paulo, Singapore and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base and our entrepreneurial management culture make us the international reference in wealth management.

For more information, visit our website at www.juliusbaer.com