The Swiss regulator’s conclusions prompt renewed governance, updated risk functions and a new senior management team.
Julius Baer has acknowledged the supervisory conclusions published by the Swiss Financial Market Supervisory Authority (Finma), noting that the matters identified have already been addressed through remedial measures implemented in alignment with the regulator. As part of the overhaul, Julius Baer has wound down its private debt business The actions form part of the Swiss private banking group’s broader strategic reset and have been executed by a fully renewed Executive Board. A