Zurich, Switzerland (GenevaLunch) – Bank Julius Baer, the country’s largest private bank, has revised its 2008 figures, attributing them to the two completely separate groups it will present to shareholders at a 30 June Extraordinary General Meeting. The bank is splitting its private banking and asset management business, with the first to be called Julius Baer Group, with assets of CHF3.5 billion and the second Gam Holding, with CHF3.0b in assets.
The revised figures, which treat the two companies as if they were created 1 January 2009, shows Bank Julius Baer with operating income of CHF2.94 billion, now split into CHF1.67b for Julius Baer Group and CHF1.37b for Gam Holding, with inter-company adjustments accounting for the difference. Net profit (adjusted) was CHF852.3 million, now shared with CHF449 for Julius Baer Group and CHF382.2m for Gam Holding.
Background, “Julius Baer to spin off funds unit,” Financial Times, 20 May 2009
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News story, GenevaLunch, 4 June 2009.
Filed under: Business
Tags: bank, GAM Holding, Julius Baer, revised accounts, split, Swiss banks, Zurich
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September 9th, 2009 at 9:33 am
[...] GenevaLunch 20 May 2009 Posted by :: Ellen Wallace on 9 September [...]
June 8th, 2010 at 3:00 pm
I would dearly like to know why Julius Baer bank worked with a corrupt scamming firm called ‘ securities and Investments International’ selling ‘Tri-hub International’ shares. I would like my money returned.
The Idea was that ‘Securities Management and Research’(Ryan Jenkins) would broker my then s-reg ‘ Companies west group inc’ shares certs(market value130,000 EUR) via Julius Baer Bank using them as some kind of write off
tax benefit.
JBB required a bond in order to sweeten this deal and give them an ‘interest’, and it was put to me that I must
purchase some Tri-Hub International shares to the value of approx 5000 EUR initially(19th Nov 2009) and another 5000EUR (12th Jan2010) a couple of months later.
The money was wired to JBB. In return I got one cert, but to date have not received the other. I have the Bank money transfer docs.
Basically I have wired JBB 10,000 EUR and not received the second share cert in Tri-Hub which had they sent I may have been able to sell at the peak but, in the event the shares dropped like a stone. I can’t get in touch with SMR and JBB have not responded to my requests for clarification of the situation.
Its my contention that SMR is a scam firm endorsed by JBB manipulating Tri hub shares.