Those still under investigation include the Swiss unit of HSBC Holdings Plc, Europe’s biggest bank.

“Julius Baer remains committed to cooperating proactively with the DOJ’s investigation,” the company said in the statement. Jan Vonder Muehll, a spokesman for the bank, declined to comment further by telephone.


Earnings Impact


Julius Baer, founded in 1890, has grown through acquisitions in the past six years under Collardi, including the 2012 purchase of Bank of America Corp.’s non-U.S. wealth units. The company managed 297 billion francs ($299 billion) for wealthy individuals and families at the end of October and reported a 78 percent decline in first-half profit in July, mainly due to the initial provision for the U.S. tax settlement.

The provision for the settlement will be included in its 2015 results, Julius Baer said. Even so, the bank expects to report a net profit for the year and remains “adequately capitalized,” with a BIS total capital ratio of 18.6 percent as per Oct. 31, 2015.

U.S. authorities have been aided in their investigations by 54,000 U.S. taxpayers who disclosed offshore accounts to the IRS since 2009, paying more than $8 billion in back taxes, penalties and interest, according to the Justice Department.

More than three dozen offshore bankers, lawyers and advisers have also been charged. They include Daniela Casadei and Fabio Frazzetto, the two Julius Baer bankers who were indicted in 2011. Casadei worked at the bank from the early 1990s and Frazzetto worked there from 2005, according to the indictment. Both advisers are charged with conspiracy and face as long as five years in prison.

Casadei and Frazzetto are still employed by Julius Baer in Switzerland, according to the company.

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