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Julius Baer still has cash to make purchases after settling tax probe
Published Mon, Jul 20, 2015 · 09:50 PM
Geneva
JULIUS Baer Group Ltd should have cash to purchase rivals even as it prepares to settle a four-year probe into tax evasion by the US Justice Department.
Switzerland's third-largest wealth manager said last month it set aside US$350 million to fund a financial agreement over the bank's role in helping Americans hide money offshore. That would leave it with almost US$1 billion of excess capital that could be tapped for deals.
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