Chief Executive Officer Stefan Bollinger and Chairman Noel Quinn are seeking to refocus the bank after losses linked to the collapse of Rene Benko’s real estate empire prompted the wealth manager to shake up its top management. Swiss regulator Finma is currently conducting an investigation into the affair.
Julius Baer Group Ltd. said it was booking a 150 million Swiss franc (US$186 million or $242.9 million) loan-loss provision on real estate lending, as the cleanup of the bank keeps investors waiting for a resumption of share buybacks.
Wealthy clients have added a net 11.7 billion Swiss francs in the ten months through October, the Zurich-based bank said in its interim statement Monday. That’s higher than in the same period in 2024. Assets under management grew 4% in the first ten months to 520 billion Swiss francs.
