Bank ferrier lullin4/27/2023 ![]() ![]() Worse, the spectacular bankruptcy of Leclerc & Cie in May 1977 resulted in the arrest of Robert Leclerc, who is still awaiting trial. In Geneva Ferrier, Lullin & Cie has been swallowed up by the Swiss Banking Corporation. In Zürich Bank Julius Bär has become a limited company. In a dozen years the number of Swiss private banks has shrunk from 49 to 23. Outsiders believe that a private bank's income cannot be more than 1% of the portfolios it handles. It does not fulfil the normal functions of a bank it does not lend, except now and again to a client with a short-term liquidity problem. It looks like an anachronism, left over from the days before the limited liability company was invented. This is the definition of a private bank. ![]() ![]() He meant that every partner of Lombard, Odier & Cie, himself included, had unlimited personal responsibility. "We are not private banks we are private bankers," said Thierry Barbey. ![]()
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