Julius Baer Takes $156 Million Loan Hit in New Setback for CEO

Julius Baer Group Ltd. said it’s booking another large loss from property developments it helped finance, in a fresh setback for new Chief Executive Officer Stefan Bollinger as he attempts to stabilize the Swiss wealth manager.

The Zurich-based bank disclosed late Tuesday that it’s taking a loan-loss charge of 130 million Swiss francs ($156 million) related to its private debt business and selected positions in its mortgage operation. The bank’s shares fell as much as 7% after the open in Zurich on Wednesday and were down 5% as of 9:35 a.m.

Baer is discussing writing down a loan related to ...