Credit Suisse Group AG said it can’t guarantee resolving a dispute with the U.S. Justice Department this year as Switzerland’s second-biggest bank prepares to hand over data on former American clients suspected of tax evasion.
Credit Suisse Group AG and Julius Baer Group Ltd., the largest Swiss banks embroiled in a U.S. tax-evasion probe, may face delays in reaching settlements after the Swiss Parliament rejected a bill that would have freed the industry to send information to the U.S.
Julius Baer Group Ltd., the Swiss wealth manager founded in 1890, fell the most in three months in Zurich trading after saying it expects to pay a fine to resolve tax matters with the U.S. and as profit declined 27 percent.
Julius Baer Group Ltd. Chief Executive Officer Boris Collardi said Bank Sarasin & Cie. AG meets his acquisition criteria and a takeover would produce “synergies,” Le Temps reported, citing an interview with the CEO.
Julius Baer Group Ltd. , the 120- year-old Swiss private bank, expects to double the portion of staff in Asia as it taps an “increasingly important” market for expansion, Chief Executive Officer Boris Collardi said.
Julius Baer Group Ltd., the Swiss wealth manager established in 1890, said first-half profit climbed 19 percent after earnings in the year-earlier period were cut by a payment to settle a German tax-evasion probe.