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Article: SWITZERLAND: MOODY'S CHANGES OUTLOOK ON BANK JULIUS BAER'S RATINGS TO NEGATIVE.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- October 11, 2009
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Moody's Investors Service has today changed the outlook on the B- bank financial strength rating (BFSR) and Aa3 debt and deposit rating of Bank Julius Baer AG (BJB) from stable to negative. The negative outlook reflects Moody's view that the Swiss private banking sector will continue to face a challenging environment, characterised by: (i) continued market uncertainty and de-leveraging, motivating clients to seek safer, less complex and hence lower fee-generating products, thereby exerting pressure on margins; (ii) greater client scrutiny of client advisors, limiting their pricing power; and (iii) increasing international regulatory pressure on the Swiss offshore wealth ...