In the Fifa money laundering and corruption case with the United States, they would probably soon agree on a double-digit million fine, Julius Baer reported yesterday.
Some of the events coincide with Boris Collardi’s time. But this seems to get away with no personal punishment.
This can be seen in an answer from the Zurich public prosecutor’s office. There had been “no communicable news” in the matter since the last information.
This had read in the summer that the criminal authorities had received criminal charges against Collardi and other current or former Bär bosses a preliminary examination would make.
It has been two months since then and investigators appear to have taken no further action. With that, Collardi seems to be off the hook.
At least criminally. The notices were issued in the wake of the Finma ruling against Bank Bär around Fifa and Venezuela.
The Bernese Authority was in February went harshly to court with the private bank, put a guardian in her house and forbade her to take over big deals. At the time, it announced that it would “check in a second step whether proceedings against individuals would be opened”.
Who are the real people in charge? Collardi, said the filers of the criminal complaints, in him they saw the central figure for the serious money laundering and corruption failures in the examination of customers.
Collardi was CEO of Julius Baer from 2009 to the end of 2017. At the end of 2017 he moved to the Geneva-based noble bank Pictet to become one of the few high-ranking partners there.
After the Finma report and the criminal charges, the pressure increased. Collardi switched to Peter Nobel and a criminal defense attorney well-known lawyers a.
Nobel stressed that the attacks on Collardi were unfair. The media shot at their clients because of advertisements; but anyone can be displayed.
The Finma report is decisive, it is not public.
Collardi received flank protection from Pictet. Their top partner said in an interview that the bank and its owners have confidence in their new colleagues.
“We fully support Boris Collardi – that applies to all managing partners, and I think I can speak for the bank’s employees too,” said Renaud de Planta the NZZ on Sunday Mid-July.
When asked by the journalists what would happen to Collardi if the banking supervisory authority no longer certify that Bär officials were responsible for clean banking, de Planta emphasized that he and his Pictet colleagues would “evaluate the facts if we know them”.
If neither the Zurich judiciary nor the Bernese Finma Collardi tackle the problem, then the question arises who is responsible for the risk and compliance violations at Julius Baer.
Under Collardi, his deputy and risk manager Bernhard Hodler was at the center of the helm for a long time. For many years he headed the entire risk and compliance area at Julius Baer.
Hodler took over the operational steering of Collardi when he jumped overboard with a bang 3 years ago. Instead of staying for several years as planned, Hodler already resigned in 2019 – after less than 2 years.
The new strong man in the risk area of Bär, Oliver Bartholet, quickly changed the highest bosses in his area. Both Compliance Head Roman Baumgartner and his Money Laundering Officer Martin Eichmann are gone.