Lugano Tribune, luganotribune.com
FINANCE
FINMA closes proceedings against Julius Baer: 250 million in extra capital, dividends under approval
The supervisory authority concluded on 29 September 2026 its fifth enforcement proceeding in less than ten years against the bank: serious shortcomings in credit-risk management and anti-money laundering. In Lugano, the group's third-largest Swiss location with 130 staff, Riccardo Corzani has headed the branch since 1 September.
Translated from the Italian original. Read in Italian
FINMA concluded on 29 September 2026 its enforcement proceeding against Julius Bär & Co. Ltd., the fifth against the bank in less than ten years. The investigation established serious breaches of supervisory obligations in risk management, in connection with loans granted to a European group, and in anti-money laundering, in connection with the handling of relationships with two Russian PEPs. The ruling is not yet legally binding.
FINMA vs Julius Baer: the measures at a glance
| Additional capital to be held | CHF 250 million | FINMA |
| Profits confiscated | approx. CHF 10 million | FINMA |
| Periodic reporting on risk culture and compliance | until 2032 | FINMA |
| Enforcement proceedings in less than ten years | 5 | FINMA |
| Lugano branch staff | approx. 130 | finews.ch |
The measures ordered by the authority
FINMA ordered that dividends and other distributions to shareholders require its prior approval. The ban on taking on new PEPs from high-risk countries, imposed in September 2025, will be phased out gradually. The additional capital, set at 250 million francs, must be maintained until the bank has divested the clients relevant to the proceedings.
The bank must also report periodically to FINMA on its progress in risk culture, error management and compliance until 2032. FINMA ordered the confiscation of around 10 million francs in profits generated in violation of the rules, and opened enforcement proceedings against three former employees of the bank.
The bank: the matters date to the previous management
Julius Baer acknowledged FINMA's conclusions in an ad hoc announcement, stating that the matters concerned by the proceedings date to the period before the current management and that the group has adopted, in coordination with the authority, comprehensive remedial measures.
Today we've reached an important milestone, which is a recognition of our efforts over the past 20 months.
Stefan Bollinger, Chief Executive Officer of Julius Baer, in the bank's ad hoc announcement of 29 September 2026
The bank also requested FINMA's approval to restart its share buyback programme, as reported by Dow Jones Newswires and confirmed by the company's announcement.
Lugano, the group's third-largest Swiss location
For Ticino the case has a local chapter. The Lugano branch, with around 130 staff, is the group's third-largest Swiss location and plays a key role in the bank's business with Italy. Since 1 September 2026 the branch has been led by Riccardo Corzani, Head of the Italy and Ticino market, succeeding Ettore Bonsignore, as reported by finews.ch.
Translation note: this article was translated from the Italian original. The Italian version is the authoritative text.
