Legal
Swiss Private Bank Suspends Employee As Authorities Probe Arms Deal
The firm confirmed the suspension in an email to this publication.
Julius Baer has
suspended a banker after Swiss authorities launched
investigations into arms deals by RUAG, the Alpine State’s
state-owned weapons manufacturer.
The investigation came a week after Swiss weekly newspaper
Handelszeitung linked the private bank employee to
alleged covert Russian arms trades.
“We have taken note of the allegations and are currently looking
into them. The employee in question will be suspended during our
investigation,” a spokesperson for Julius Baer told
WealthBriefing in an email.
