10 March 2004

Julius Baer opts for Avaloq

Bank Julius Baer is another leading Swiss private bank to have chosen the Avaloq Banking System. In addition to cost aspects, the decision in favour of the integrated banking solution Avaloq was based both on strategic and on organizational advantages. Following intensive negotiations with external partners, the Avaloq Banking System was preferred to an outsourcing of the core banking platform. We see this solution, which is based on standard software, offering greater long-term savings potential. Therefore, we will be introducing the Avaloq Banking System., says Walter Knabenhans in stating the reason for the decision.

Julius Baer is the 20th Avaloq client. The Julius Baer Group has headquarters in Zurich and has representative offices in, amongst other places, the financial centers of Geneva, Frankfurt, London, Milan and New York. Approximately 1800 employees work for Julius Baer world-wide.

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