FCA fines Julius Baer £18m over 'corrupt' relationship with Russian oil conglomerate

Valeria Martinez
clock • 2 min read

The Financial Conduct Authority has fined wealth manager Julius Baer International £18m and imposed a ban on three former senior executives over "corrupt" relationships between the firm and a Russian oil giant. The UK's regulation watchdog said Julius Baer had failed to "conduct its business with integrity, failing to take responsible care to organise and control its affairs and failing to be open and cooperative with the FCA". The three senior executives are Gustavo Raitzin, former regional head , Thomas Seiler, former sub-regional head for Russia and Eastern Europe and non-executive...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?