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Julius Baer Reaches Agreement In Principle To Settle Investigation In FIFA Matter

Julius Baer (JBARF.PK,JBAXY.PK) said the company has reached an agreement in principle with the U.S. Department of Justice, resolving the investigation of the Bank's role in FIFA matter in the US. Julius Baer expects it will execute a final resolution in the matter with the DOJ shortly.

The agreement entails Julius Baer entering into a three-year deferred prosecution agreement and a financial component. The Group has taken a provision of $79.7 million, which will be reflected in its 2020 results.

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