Julius Baer CEO Says U.S. Agreement Is Priority, L’Hebdo Reports

Julius Baer Group Ltd. (BAER) Chief Executive Officer Boris Collardi said the bank’s “priority” is to reach a settlement on tax matters with the U.S. Department of Justice, L’Hebdo reported.

That agreement may come in the second half of the year and Julius Baer has the resources to meet its cost obligations, Collardi said in an interview to be published in tomorrow’s issue of the magazine.

While Switzerland is ready to hand over client details to the U.S., that would have to be part of a comprehensive solution, which Collardi hopes will come before the end of the year, according to L’Hebdo.

To contact the reporter on this story: Giles Broom in Geneva at gbroom@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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