Baer Tells Clients With Smaller Accounts to Add Funds or Exit
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The Julius Baer headquarters in Zurich.Julius Baer Group Ltd. is telling some clients with lower balances at the bank to increase the amount of funds they invest with the wealth manager or go elsewhere, according to people familiar with the matter. Using different thresholds according to the country of operation, Julius Baer is seeking to ensure that a given business relationship is worth the cost and compliance risks it entails, the people said, who asked not to be named discussing private matters. The bank has stopped on-boarding certain higher profile clients, or politically exposed persons, one of the people said.