OREANDA-NEWS. Julius Baer has announced that it will redeem all of the outstanding Non-cumulative Guaranteed Perpetual Preferred Securities with a liquidation preference amount of CHF 225 per security (the ‘Preferred Securities’) on 2 December 2015, at a redemption price of CHF 225 per Preferred Security plus an amount equal to unpaid dividends thereon in respect of the current dividend period accrued on a daily basis to (but excluding) 2 December 2015. The total of one million Preferred Securities, which are not Basel III-compliant, was issued in December 2005 in connection with the acquisition of the SBC Wealth Management Group (UBS Private Banks and GAM) by the former Julius Baer Holding Ltd. The obligations related thereto were assumed by Julius Baer Group Ltd. in 2009.

 

About Julius Baer

Julius Baer is the leading Swiss private banking group, with a focus on servicing and advising sophisticated private clients and a premium brand in global wealth management. Julius Baer’s total client assets amounted to CHF 385 billion at the end of October 2015, including CHF 297 billion of assets under management. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank which celebrates its 125th anniversary in 2015, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Market Index (SMI), comprising the 20 largest and most liquid Swiss stocks.

Julius Baer employs a staff of over 5,000, including more than 1,000 relationship managers, and is present in over 25 countries and more than 50 locations. Headquartered in Zurich, we have offices in key locations including Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Monaco, Montevideo, Moscow, Mumbai, Singapore and Tokyo. Our client-centric approach, our objective advice based on a unique open product platform, our very strong financial base and our entrepreneurial management culture make us the international reference in private banking.