Julius Baer jumps after Swiss regulator wraps up enforcement case

By Reuters News

** Julius Baer BAER.S rises around 7% after Switzerland's financial regulator FINMA closed enforcement proceedings over private debt loans and client ties to two "politically exposed" Russian individuals

** The regulator ordered Julius Baer to hold additional capital of 250 million Swiss francs ($300 million) until it completes a planned divestment of incompatible clients

** "We view the conclusion of the proceedings positively: after a long wait, investors can now truly turn the tide," Zuercher Kantonalbank says, adding that the "clean-up phase" has structurally strengthened the bank

** The broker expects share buybacks this year of around 100 million Swiss francs

** The stock tops Europe's STOXX 600 index .STOXX, on track for best day since July 2023

($1 = 0.8328 Swiss francs)

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