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Julius Baer has announced a net charge of CHF 130m following a credit portfolio review.
The stock dropped 5.1% to CHF 54.40 by 9:36 CET today.
The private banking group has also appointed Ivan Ivanic as its new chief risk officer (CRO). Ivanic, who joined the bank as chief credit officer in February, was previously chief risk officer at UBS in Asia.
