Saturday, 25 April 2015
Last updated 1 day ago
Jul 23 2008 | 11:52am ET
Julius Baer Holding does not plan to sell its hedge fund unit, the chairman of the group said today.
CEO Johannes de Gier told a media conference that a sale of GAM was not on Baer’s agenda and the Swiss firm is not in talks with anyone about the unit. Speculation swirled about Baer’s plans for GAM after it revealed a 18 billion Swiss franc decline in total assets under management, due to a combination of currency movements, equity market movement and outflows in the first half.
Baer bought GAM from UBS, which remains the hedge fund’s biggest client, in 2005.
Baer also announced that de Gier is stepping down on Sept. 1 and will not be formally replaced. Widmer and asset management chief David Solo will assume leadership of the firm, which posted a 2.9% decline in first-half net profit.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…