Julius Baer Plunges as Bank Announces Cuts But No Strategy Plan [Yahoo! Finance]
JULIUS BAER GRP UNSP/ADR (JBAXY)
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Source: Yahoo! Finance
Noele Illien Mon, February 3, 2025 at 9:50 AM GMT+1 3 min read In This Article JBAXY (Bloomberg) -- Julius Baer Group Ltd shares dropped more than 10% after the Swiss wealth manager announced job cuts and a governance revamp but left analysts waiting for a more detailed plan to boost growth. Most Read from Bloomberg New York's First ‘Passive House' School Is a Model of Downtown Density When French Communists Went on a Brutalist Building Boom Trump Paves the Way to Deputize Local Police on Immigration How the 2025 Catholic Jubilee Is Reshaping Rome Historic London Elevator Faces Last Stop in Labour's Housing Push New Chief Executive Officer Stefan Bollinger announced at his first results presentation that the executive board is being cut to five members from 15, and the bank will seek an additional 110 million Swiss francs ($120 million) in annual cost savings. That will translate to about 400 jobs in Switzerland, equivalent to about 5% of the workforce, depu
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