Julius Bär, a Swiss private bank, has experienced a downgrade in its rating due to hundreds of millions of loans to Benko. This downgrade directly impacts the bank’s profitability as it will have to pay more for borrowing money.

The question of who is to blame for this situation has gained momentum. Bloomberg has pointed out Evie Kostakis, the Chief Financial Officer of Julius Bär since 2022, as a potential culprit. According to Bloomberg, both teams responsible for the 600 million loans to Benko’s Signa Group were ultimately overseen by Kostakis, which is unusual as the risk team would typically report to the chief risk officer.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries
Sentiment	negative
Relevance Score	1
People	Evie Kostakis
Companies	Julius Bär, Signa-Gruppe
Currencies	None
Securities	None