Private bankers share Moody’s negative outlook
14.10.2009
Global ratings agency Moody’s indicates in a research note that
Switzerland’s private banking sector is facing a “negative” outlook. The agency
predicts a dismal future for Julius Baer, a listed bank, which recently bought ING’s Swiss operations.
Julius Baer says it is optimistic, but most bankers predict uncertainty in the market
and problems from regulatory pressure, all of which could encourage further
consolidation in the sector.
Switzerland (9) -- Analyses -- 2009
Two world-wide companies
14.10.2009
Moody's Corporation is the holding company for Moody's Investors Service
which performs financial research and analysis on commercial and government entities.
The company also ranks the credit-worthiness of borrowers using a standardized ratings scale.
It has a 40% share in the world credit rating market.
Julius Baer is a Swiss traditional private bank based in Zurich, Switzerland.
It was founded by the banker of the same name. The firm's services consist mainly of asset management,
wealth management and investment consultancy, investment funds for private and institutional investors
from all over the world as well as securities and foreign exchange trading.
Bulgarian