The Next Swiss Bank To Resolve US Tax Problems

Law360, New York (January 7, 2016, 10:23 AM EST) -- Shortly before New Year's, on Wednesday, Dec. 30, 2015, the media reported that Julius Baer Group AG ("JB") expected to pay about $547 million to settle the U.S. investigation into how the bank (and its bankers) assisted U.S. taxpayers in evading tax. This investigation began more than four years ago and followed similar investigations into UBS Group AG and Credit Suisee Group AG.

On April 15, 2015, at its annual shareholder meeting, Daniel J. Sauter, chairman of Julius Baer's board of directors, stated that the bank was close to a resolution with the United States. He indicated that he was convinced that it "will...

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