ZURICH, July 21 The chief executive of Swiss
private bank Julius Baer said on Monday it was quite
likely the bank would reach a settlement before the end of this
year in a U.S. criminal probe into the bank's role in helping
wealthy Americans evade taxes.
Larger rival Credit Suisse reached a settlement in
a similar case in May and Julius Baer Chief Executive Boris
Collardi said this could help unlock negotiations for the other
banks involved in a tax probe.
"The probability is certainly quite high that this
settlement will take place this year," Collardi said at a news
conference after the publication of the bank's half-year
Collardi also said Julius Baer has the resources to satisfy
a possible U.S. fine, without going into specific figures.
Baer has previously said it has not made a provision for any
potential fine as it could not adequately estimate the ultimate
(Reporting by Joshua Franklin)