Julius Baer Group
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| Type | Public (SIX: BAER) |
|---|---|
| Founded | 1890 |
| Founder(s) | Julius Bär |
| Headquarters | Zürich, Switzerland |
| Key people | Boris Collardi (CEO, Bank Julius Baer), Raymond Baer (Chairman of the board), Dieter Enkelmann (Group CFO) |
| Industry | Financial services |
| Products | Private banking, wealth management, asset management |
| Revenue | CHF 2.939 billion (2008)[1] |
| Profit | ▲ CHF 661.2 million (2008)[1] |
| Total assets | CHF 46.2 billion (2008)[1] |
| Employees | 4,330 (2008)[1] |
| Website | www.juliusbaer.com |
Julius Bär Group (or Julius Baer Group, SIX: BAER) is a Swiss banking firm which is the parent company of Bank Julius Bär, a traditional private bank based in Zurich, Switzerland. The firm dates back to the year 1890 when it was founded by the banker of the same name. The group manages substantial assets for private and institutional clients from all over the world. The firm's services consist mainly of asset management, wealth management and investment consultancy, investment funds for private and institutional investors as well as securities and foreign exchange trading.
Apart from its head offices in Switzerland, the bank has offices in London, Frankfurt, Milan, Dubai, Grand Cayman, New York, Singapore and Hong Kong.
In September 2005, Julius Bär acquired the independent private banks Ferrier Lullin, Ehinger & Armand von Ernst, Banco di Lugano, and the asset management house Global Asset Management from the Swiss banking giant UBS AG, to become one of the largest independent wealth management firms in Switzerland.[2] UBS acquired almost 21% of Baer's shares as part of the deal,[2] but sold off its stake in May 2007 to fund a share buyback.[3] The companies of the group are consolidated within Julius Baer Holding Ltd., whose shares are listed on the SIX Swiss Exchange.
Alex Widmer, the chief executive of Bank Julius Baer, died suddenly on December 4, 2008. News reports cited sources indicating the death was a suicide.[4] Hans de Gier, the former chief of Julius Baer Group, assumed Widmer's responsibilities for the interim.[4]
[edit] See also
[edit] References
- ^ a b c d "Annual Report 2008" (PDF). Julius Bär Holding. http://www.juliusbaer.com/global/en/juliusbaergroup/corporateinformation/publications/Pages/JuliusBaer_FYR08_jbh_ar.pdf. Retrieved 2009-02-22.
- ^ a b Merrell, Caroline (6 September 2005). "Julius Baer snaps up UBS private banks for £2.5bn". The Times. http://business.timesonline.co.uk/tol/business/article563038.ece. Retrieved 2009-02-22.
- ^ "Today In Business: UBS Sells Julius Baer Stake". The New York Times. 26 May 2007. http://query.nytimes.com/gst/fullpage.html?res=9502E3DB1730F935A15756C0A9619C8B63. Retrieved 2009-02-22.
- ^ a b Reid, Katie (December 5, 2008). "Bank Julius Baer CEO dies unexpectedly". Reuters. http://uk.reuters.com/article/wtMostRead/idUKTRE4B420R20081205. Retrieved 2008-12-06.
[edit] External links
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