Julius Baer Group

In the aftermath of a substantial money laundering scandal involving S$2.4 billion ($1.8 billion) last month, banks based in Singapore have increased their vigilance towards clients of Chinese origin who possess foreign passports. What Happened: According to sources, several financial institutions...

Philipp Rickenbacher, the chief executive of Swiss lender Julius Baer, reportedly said Switzerland's position as the world's banker to the super-rich is not "god given" and that the Swiss government and regulators should better communicate with worried international investors. "Things will remain...

Swiss private bank Julius Baer Group is set to acquire Merrill Lynch's International Wealth Management business for $860 million Swiss francs, or $882 million dollars, according to Reuters. Baer claims it will increase assets currently under management by 40 percent. Bank of America (NYSE: BAC),...