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)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.