Julius Baer CEO sees \\\'fair and equitable\\\' solution to US probe

Julius Baer said it believes it will find a ‘fair and equitable’ solution to a US criminal probe into the Swiss bank's role in helping wealthy Americans evade their taxes. The Zurich-based private bank said it had little substantial information to add on its own probe, two months after larger rival Credit Suisse in a similar investigation became the largest bank in decades to plead guilty to a US criminal charge and agreed to pay more than $2.5 billion in penalties. ‘I think the fact that Credit Suisse could find a settlement as a category one bank has unlocked the situation, so I think the discussions are ongoing,’ Julius Baer Chief Executive Boris Collardi told journalists on a call following first-half earnings. ‘I continue to believe that in the end we will find a fair and equitable solution for the group. I think we can reasonably say that this is now a topic of a matter of a few more months and not years as in the past,’ according to Reuters.