Key Developments: Julius Baer Gruppe AG (BAER.VX)

BAER.VX on Virt-X Level 1

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CHF-0.12 (-0.33%)
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CHF36.05
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Latest Key Developments (Source: Significant Developments)

Julius Baer Gruppe AG raises 350 million Swiss francs in additional hybrid tier 1 capital
Tuesday, 20 May 2014 11:30am EDT 

Julius Baer Gruppe AG:Says it placed 350 million Swiss francs of subordinated, unsecured debt with private and institutional investors.Debt is in form of perpetual non-cumulative Additional Tier 1 Securities.Coupon of 4.25 pct.Optional redemption call on June 5, 2020 and at any interest payment date thereafter.Securities will be issued in denominations of 5,000 Swiss francs and multiples thereof.Application will be made for provisional admission to trading on the SIX Swiss Exchange.  Full Article

Julius Baer Gruppe AG acquires majority stake in GPS Investimentos Financeiros e Participacoes S.A.
Tuesday, 25 Mar 2014 02:00am EDT 

Julius Baer Gruppe AG:Acquires additional 50 pct of Sao-Paulo-based GPS Investimentos Financeiros e Participacoes S.A. (GPS).This increases Julius Baer's participation in GPS to 80 pct from 30 pct acquired in May 2011.GPS, which includes GPS Planejamento Financeiro Ltda. and CFO Administracao de Recursos Ltda., is independent wealth manager in Brazil.  Full Article

Julius Baer Gruppe AG proposes dividend
Sunday, 2 Feb 2014 07:00pm EST 

Julius Baer Gruppe AG:Says the Board has proposed an unchanged ordinary dividend of 0.60 Swiss Franc per share.Says it will be payable on Apr. 16.  Full Article

Julius Baer Gruppe AG Announces Bank Julius Baer Singapore Served with Writ and Contesting Claim
Friday, 27 Sep 2013 11:30am EDT 

Julius Baer Gruppe AG announced that it disclosed in its Half-year Report 2013 that on June 12, 2013 a writ of summons (together with a statement of claim) (the Writ) had been filed in the High Court of Singapore naming Bank Julius Baer & Co Ltd. Singapore branch (the Bank) and a former relationship manager, respectively, as defendants by the plaintiffs, two former clients of the Bank. At that point in time the Writ had not been served on the Bank. On September 25, 2013, the Writ was served on the Bank together with a statement of claim. The plaintiffs' claim amounting to about SGD 94 million and HKD 186 million (further or alternatively, damages to be assessed by the court) plus interests and costs stems from a dispute over alleged damages/losses allegedly incurred by the plaintiffs arising from share accumulator transactions in 2007 and 2008. Based on the document called the statement of claim (Amendment No. 1), the plaintiffs claim they suffered damages/losses due to (i) alleged breach of fiduciary duties, (ii) alleged breach of duty of care and/or warranty, (iii) alleged breach of contractual and common law duties of skill and care and/or warranty and/or (iv) alleged misrepresentations (whether fraudulently or negligently made). Julius Baer announced that it is vigorously contesting the claim and taking appropriate measures to defend its interests.  Full Article

Julius Baer Gruppe AG Says Bank of America Corp's Merrill Lynch Unit Integration On Track-Reuters
Tuesday, 2 Apr 2013 01:36am EDT 

Reuters reported that Julius Baer Gruppe AG has transferred ownership of businesses in Chile, Uruguay, Monaco and Luxembourg which it bought from Bank of America Corp's Merrill Lynch as it integrates the wealth management businesses it acquired from the U.S. bank. The transfers would substantially boost its businesses in South America and Monaco. Baer closed its purchase of Merrill Lynch's wealth management business outside of the United States and Japan in February, with the aim of expanding in fast-growing emerging markets and strengthening its business in more mature ones. Baer said it would also transfer other major former Merrill Lynch businesses in Hong Kong, Singapore and the UK later this year. It said it expects the integration to be complete in the first quarter of 2015, with most large businesses to be transferred this year.  Full Article

Julius Baer Gruppe AG Proposes Dividend
Monday, 4 Feb 2013 01:00am EST 

Julius Baer Gruppe AG announced that the Board of Directors will propose to the AGM on April 10, 2013 an unchanged ordinary dividend of CHF0.60 per share.  Full Article

Julius Baer Gruppe AG Announces Principal Closing Of Its Acquisition Of Merrill Lynch`s International Wealth Management Business
Friday, 1 Feb 2013 01:00am EST 

Julius Baer Gruppe AG announced that as planned, the Principal Closing of Julius Baer`s acquisition of Merrill Lynch`s International Wealth Management business outside the United States (IWM) from Bank of America, which was announced in August 2012, took place on February 01, 2013. At the same time and as a first step of the integration, Julius Baer acquired the Geneva-based Merrill Lynch Bank (Suisse) S.A. with around CHF11 billion assets under management. The Principal Closing marks the start of the approx. two-year business transfer and integration phase. During this period IWM entities, financial advisors, their client relationships and related assets under management will be transferred to Julius Baer in a staggered process in the respective more than 20 locations, subject to the fulfilment of local preconditions. The first step in the acquisition and business transfer process is the acquisition of Merrill Lynch Bank (Suisse) S.A. and its branches in Zurich and Dubai by Julius Baer Group Ltd. at the Principal Closing on February 01, 2013. It encompasses the entire Swiss bank with international client base and assets under management of around CHF 11 billion. Merrill Lynch Bank (Suisse) S.A. is expected to be merged into Bank Julius Baer & Co. Ltd. in summer 2013.  Full Article

Julius Baer Gruppe AG Announces Capital Increase
Tuesday, 22 Jan 2013 11:30am EST 

Julius Baer Gruppe AG announced that its Board of Directors approved the execution of a capital increase out of authorized share capital. The share capital of the Company will be increased by CHF 142,048.14 through the issuance of 7,102,407 registered shares. The capital increase is expected to take place on January 24, 2013.  Full Article

Julius Baer Gruppe AG to Acquire 19.9% of Kairos Investment Management SpA; Julius Baer Gruppe AG and Kairos Investment Management SpA to Establish New Private Bank in Italy
Monday, 12 Nov 2012 01:00am EST 

Julius Baer Gruppe AG (Julius Baer) and Milan-based Kairos Investment Management SpA (Kairos) announced that they have reached an agreement for a cooperation to jointly create an onshore wealth management player in Italy. Julius Baer's Italian SIM will be integrated into Kairos and, simultaneously, Julius Baer will acquire 19.9% of Kairos. The transaction is subject to regulatory approval and is expected to close in the first half of 2013. Secondly, subject to regulatory approval, the parties have also agreed to set up a new private bank in Italy by separately applying for a banking license after the closing of this transaction. All Italian wealth management activities of the two groups will be run under the name Kairos Julius Baer. Terms of the transaction were not disclosed.  Full Article

Julius Baer Gruppe AG Completes Capital Increase
Thursday, 18 Oct 2012 01:00am EDT 

Julius Baer Gruppe AG announced the results of the CHF 492 million rights offering. By the end of the rights subscription period on October 17, 2012 at 12:00 noon CET, 99.91% of the subscription rights had been validly exercised. A total of 20,316,285 new registered shares have been issued in connection with the rights offering. The Company will obtain gross proceeds of CHF 492 million. In the Rights Offering, a total of 20,316,285 new registered shares with a nominal value of CHF 0.02 each were offered to existing holders of Julius Baer Gruppe AG’s shares at an issue price of CHF 24.20 per share. By the end of the rights subscription period, subscription rights for 20,297,448 new registered shares had been validly exercised, representing approximately 99.91% of the new registered shares offered. The new registered shares will start trading on October 18, 2012. Delivery of the new registered shares against payment of the subscription price is expected to occur on October 22, 2012. After completion of the Rights Offering, the Company will have an issued share capital of CHF 4,334,140.82 divided into 216,707,041 registered shares.  Full Article

MOVES- Standard Life Investments, Mercer, Julius Baer

(Adds Standard Life Investments, Societe Generale Private Banking, Spackman Equities Group, Atlantic Trust and Canal Insurance)

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