Julius Baer Gruppe AG BAER
SIX · Switzerland · Finance
CHF 71.22-3.06 (-4.12%)
Market closed· · CHF · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
Market closed· · CHF · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
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Investing.com -- Morgan Stanley upgraded Swiss private bank Julius Baer to "equal-weight" from "underweight" and raised its price target to CHF 81 from CHF 67 after Swiss regulator FINMA ended enforcement action against the bank over anti-money laundering breaches.
Switzerland's financial watchdog said Tuesday the bank Julius Baer committed "serious" regulatory violations, but the wealth manager's share price surged as investors turned the page on a probe partly linked to suspected breaches of anti-money-laundering rules.It opened a second phase of the proceeding in August last year -- months after a new chief executive arrived at the firm -- looking into possible breaches of anti-money-laundering rules involving clients linked to two "politically exposed"
The regulator consolidated two proceedings, as both involved lapses in the bank’s risk management as well as culture.
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