Julius Bär Group Ltd. (or Julius Baer Group, SIX: BAER) is a leading Swiss private banking group which is the parent company of Bank Julius Baer, a traditional private bank based in Zurich, Switzerland. The firm dates itself back to the year 1890, when an exchange office was founded by Ludwig Hirschhorn and Theodor Grob. Joseph Michael Uhl and Julius Bär joined in 1896, when Theodor Grob left. In 1901, Julius Bär acquired the bank. The group manages substantial assets for private clients from all over the world. The firm's services consist mainly of wealth management and investment consultancy, provides products via its open architecture platform as well as securities and foreign exchange trading.
Julius Baer employs a staff of over 3600 in more than 20 countries and over 40 locations, including Zurich (head office), Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Milan, Monaco, Montevideo, Moscow and Singapore.
In September 2005, Julius Bär acquired the independent private banks Ferrier Lullin, Ehinger & Armand von Ernst, Banco di Lugano, and the asset management house Global Asset Management (GAM) from the Swiss banking giant UBS AG, to become one of the largest independent wealth management firms in Switzerland. UBS acquired almost 21% of Baer's shares as part of the deal, but sold off its stake in May 2007 to fund a share buyback. GAM was demerged as a separate company in October 2009. The companies of the group are consolidated within Julius Bär Gruppe AG, whose shares are listed on the SIX Swiss Exchange.
Alex Widmer, the chief executive of Bank Julius Baer, died suddenly on December 4, 2008. News reports cited sources indicating the death was a suicide. Hans de Gier, the former chief of Julius Baer Group, assumed Widmer's responsibilities for the interim.
On May 2009 Boris F.J. Collardi assumed the role as CEO for the Julius Baer Group Ltd. and Bank Julius Baer & Co. Ltd.
On January 16, 2011, former Julius Baer employee Rudolf Elmer announced that he would be handing over to Wikileaks bank account details of individuals and corporations holding offshore accounts that may indicate massive tax evasion.
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