The Swiss private bank exhausted a $490 share buyback program.
Zurich-based Julius Baer bought back 449 million Swiss francs ($490 million) of its own shares, nearly the maximum value of a share repurchase program disclosed ten months ago, it said in a statement. This represents an earlier-than-planned conclusion to the program.
The Swiss private bank bought back 7.4 million shares on a second line at Switzerland's stock exchange at an average price of 60.62 francs per share. It will ask shareholders for permission to cancel the stock at its annual meeting in April.
