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Julius Baer Exclusive: CEO Exits, Private Debt Business Closes

Julius Baer, the renowned Swiss banking institution, recently disclosed major organizational changes.

A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland. PHOTO: STEFAN WERMUTH/Bloomberg
A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland. PHOTO: STEFAN WERMUTH/Bloomberg

The bank declared that CEO Philipp Rickenbacher will be stepping down, and it will also be ceasing its operations in the private debt sector.

This decision was made in the wake of setting aside over 500 million Swiss francs, predominantly

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