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Top related persons:
Romeo Lacher - 2 Julius Baer - 2 Philipp Rickenbacher - 2 Nic Dreckmann - 2 — Julius Baer - 1 Julius Baer didn't - 1 Rickenbacher - 1 Anke Reingen - 1
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Swiss Zurich Austrian Vienna Switzerland
Top related orgs:
Signa - 2 GENEVA - 1 SIX Swiss Exchange - 1 Media - 1 Credit Suisse - 1 UBS - 1 Julius Baer Group - 1 Austrian - 1

Search resuls for: "Nic Dreckmann"


2 mentions found


☆ Julius Baer CEO Resigns as Swiss Bank Announces Plans to Quit Private Debt Business
  + stars: | 2024-02-01 | by ( Associated Press | Feb. | At A.M. | ) www.usnews.com   time to read: +2 min
GENEVA (AP) — Julius Baer says its CEO is resigning and the Swiss bank is quitting the private debt business as well as setting aside more than a half-billion Swiss francs (dollars) reportedly over its exposure to bankrupt Austrian asset manager Signa. Zurich-based Julius Baer said it was exiting the private debt business and the annual results reflected net credit losses of 606 million Swiss francs (about $702 million) — 586 million francs of which included a loan-loss allowance for unspecified private debt exposure. Photos You Should See View All 45 ImagesShares of Julius Baer were up nearly 6% to 50.02 Swiss francs in midmorning trading Thursday on the SIX Swiss Exchange following the news. Media reports said the bank's troubles were linked to Signa, but Julius Baer didn't specify. The bank announced the exposure to private debt issues in November, comprised of three loans to different entities at a “European conglomerate” active in commercial real estate and luxury retail.
Persons: — Julius Baer, Romeo Lacher, Julius Baer, Philipp Rickenbacher, Nic Dreckmann, Julius Baer didn't Organizations: GENEVA, Signa, SIX Swiss Exchange, Media, Credit Suisse, UBS Locations: Swiss, Austrian, Zurich, Vienna
☆ Top wealth manager Julius Baer caught in property write-off storm as CEO steps down
  + stars: | 2024-02-01 | by ( Jenni Reid | ) www.cnbc.com   time to read: +3 min
A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. Group Chair Romeo Lacher said he and the board "deeply regret" net credit losses of 606 million Swiss francs ($701 million), well above consensus expectations, which include a loan loss allowance of 586 million francs. Julius Baer in November announced its exposure to the struggling Austrian company, which has been hit by the higher interest rate environment. It further said Thursday it would exit its private debt businesses, winding down its remaining private debt book of 800 million million Swiss francs, 2% of its total loan book. The bank reported net profit attributable to shareholders of 454 million Swiss francs for the full-year 2023, down 52%, with earnings per share of 2.21 francs.
Persons: Julius Baer, Philipp Rickenbacher, Romeo Lacher, Rickenbacher, Nic Dreckmann, Anke Reingen Organizations: Julius Baer Group, Signa, Austrian, CNBC, Swiss, RBC Locations: Zurich, Switzerland, Swiss
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