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Julius Bär CEO Steps Down After Profits Take Hit From Signa Exposure

Bank To Focus Lending on More Traditional Areas
A Signa banner on a construction crane at the site of the Lamarr department store development in Vienna. (Bloomberg via Getty Images)
A Signa banner on a construction crane at the site of the Lamarr department store development in Vienna. (Bloomberg via Getty Images)

The chief executive of Julius Bär, Philipp Rickenbacher, is stepping down after the Swiss bank reported a 55% fall in profits as a result of loans made to Austrian real estate company Signa.

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