JBARF Julius Baer Gruppe AG (PK)

Julius Baer Group (BAER.VX) stopped accepting American clients of UBS AG (UBS) with offshore accounts in the fall of 2008, Chief Executive Boris Collardi said Monday.

U.S. authorities are targeting 11 Swiss banks, including Julius Baer, which allegedly helped wealthy Americans evade taxes.

"For every bank the situation is different," Collardi said.

By Anita Greil, Dow Jones Newswires; +41 43 443 8044; anita.greil@dowjones.com

Julius Baer Gruppe (PK) (USOTC:JBARF)
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Julius Baer Gruppe (PK) (USOTC:JBARF)
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