Julius Baer

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The Swiss National Bank scrapped its euro cap on the franc and drove Swiss stocks down nearly 9 per cent, their biggest one-day percentage fall for at least 25 years. One trader described the central bank’s move as “carnage”. Photograph: Martin Leissl/Bloomberg

Switzerland’s move to jettison a three-year-old cap on the franc threw global markets into turmoil yesterday, sending the currency and most European(...)

 The Zürich-based group also revealed that it had been contacted by Finma, the Swiss banking watchdog, in relation to the global probe into possible manipulation of the foreign exchange market. Photograph: Valentin Flauraud

Shares in Julius Baer fell 6 per cent yesterday after the Swiss private bank said the costs of integrating the Merrill Lynch businesses it bought from(...)

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