Julius Baer (BAER) Suffered Tech Crash That Left Bank, Clients Offline

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Julius Baer Group AG suffered a crash of its core banking systems on Feb. 16 that left Switzerland’s second-largest listed wealth manager offline for some time, according to people familiar with the matter.

In a statement, Julius Baer confirmed the temporary outage of its IT systems late afternoon on Feb. 16 caused by “a technical connectivity issue” and added that it was fixed “within a short time.”

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