Finance
Julius Baer Suffered Tech Crash That Left Bank Offline
- Clients were unable to trade or see portfolios on Feb. 16
- Glitch occurred outside of the busiest European trading hours
A Julius Baer branch in Zurich.
Photographer: Adrian Moser/Bloomberg
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Julius Baer Group AG suffered a crash of its core banking systems on Feb. 16 that left Switzerland’s second-largest listed wealth manager offline for some time, according to people familiar with the matter.
In a statement, Julius Baer confirmed the temporary outage of its IT systems late afternoon on Feb. 16 caused by “a technical connectivity issue” and added that it was fixed “within a short time.”