|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||11.34 - 11.45|
|52-week range||4.92 - 11.45|
|Beta (5Y monthly)||1.45|
|PE ratio (TTM)||15.51|
|Forward dividend & yield||0.32 (2.84%)|
|Ex-dividend date||04 Nov 2020|
|1y target est||N/A|
(Bloomberg) -- Julius Baer Group Ltd. reached a settlement with U.S. authorities over a long-running investigation involving the bank’s role in corruption at FIFA, the governing body for world soccer.The Swiss private bank has set aside $79.7 million to help cover financial penalties related to the deal, which will be booked against 2020 results, according to a statement on Monday.Julius Baer has been under pressure to improve its anti-money laundering controls following harsh criticism by regulators. In February, Swiss financial watchdog Finma blocked the bank from making large acquisitions, saying it fell “significantly short in combating money laundering” between 2009 and early 2018.The FIFA agreement also includes a three-year deferred prosecution, the bank said, without being more specific. Julius Baer has been cooperating with the U.S. Department of Justice since 2015 in an investigation of money laundering and corruption involving officials and affiliates of FIFA and associated sports media and marketing companies, the bank said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Julius Baer has made an agreement with the U.S. Department of Justice (DoJ) to settle allegations over its role in corruption surrounding global soccer body FIFA, the bank said on Monday. Julius Baer said it expects a final resolution of the matter "shortly." Switzerland's third largest private bank said it had been cooperating with the DOJ since 2015 in the agency's investigation of alleged money laundering and corruption involving officials and affiliates of FIFA and associated sports media and marketing companies.
Swiss private bank Julius Baer Gruppe AG <BAER.S> plans to set up business in China in partnership with a local financial firm as part of its strategy to boost growth in Asia, people with direct knowledge of the matter told Reuters. Julius Baer aims to establish a majority-owned joint venture to tap the rapidly growing wealth in the world's second-largest economy and has started looking for a partner, said the people. The plan comes as China, the world's second-largest country by number of billionaires, has been rapidly opening up its financial sector for bigger foreign participation.