Julius Baer informed his clients – Russians and Belarusians – about the freezing of their investment accounts due to the requirements of the European depositary Euroclear.
The Swiss bank Julius Baer sent a notice to Russian clients that their investment accounts will be isolated from other assets, and transactions on these investment accounts will be frozen.
Jan Wonder Mühl, head of corporate communications at Julius Baer bank, confirmed the information that Russians’ investment accounts will be isolated due to Euroclear’s requirements.
“Euroclear requires that the securities held by Euroclear and the funds received from these securities be allocated to special accounts with Euroclear,” the statement said.
Letters to Russian and Belarusian clients indicate that these measures are effective immediately. This decision is connected with sanctions against the Russian Federation and Belarus.
Julius Baer Group
Swiss bank specializing in private banking and asset management. The headquarters is located in Zurich (Switzerland).
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2023-05-23 19:26:21
