FIFA President Gianni Infantino gestures as he walks on the stage before the start of the 69th FIFA congress in Paris, June 5, 2019. (AP Photo/Alessandra Tarantino)
FIFA President Gianni Infantino gestures as he walks on the stage before the start of the 69th FIFA congress in Paris, June 5, 2019. (AP Photo/Alessandra Tarantino)Julius Baer reached a deal with the U.S. Department of Justice on Monday, following months of investigations into the private Swiss bank’s involvement in a money laundering and corruption scandal with FIFA, the world soccer governing body.

Former Julius Baer CEO Boris Collardi. (Richter Frank-Jurgen/Creative Commons)
Former Julius Baer CEO Boris Collardi. (Richter Frank-Jurgen/Creative Commons)Swiss private bank Julius Baer is seeking to withhold a total of more than CHF 5 million (about $5.5 million) in deferred pay from two former chief executives who oversaw the bank during South American money-laundering scandals, the Financial Times reported Friday.

Julius Baer is mulling a U.S. and Latin American wealth management expansion, Bloomberg reported, as the Swiss bank seeks to boost its global presence while working around regulatory snags.

Swiss private bank Julius Baer has been ordered to pay CHF 150 million ($161.5 million) for “unauthorized withdrawals” that occurred following the fall of the Berlin Wall, the bank said Friday, though it intends to try to recoup the money from rival Swiss lender UBS.

Private Swiss bank Julius Baer said it is in “advanced discussions” with the U.S. Department of Justice to resolve a money laundering and corruption probe regarding the world soccer governing body FIFA.

HSBC plans to hire as many as 3,000 wealth planners in mainland China, as the bank sharpens its focus on managing high value Asian accounts, despite rising global human rights concerns over China’s treatment of Hong Kong.

Hong Kong’s capital markets regulator said Sunday that it doesn’t expect China’s new national security law to impact how financial institutions do business in the city, even as reports emerge that banks are increasing scrutiny of clients in response to the statute.

Fintech vestr received more money than it sought in a Series A financing round that will help the Switzerland-based startup build out its platform for issuers of Actively Managed Certificates.

Julius Baer said Friday that it is creating a new unit for direct private investments for its ultra-wealthy clients, with the new division’s head joining from Switzerland’s largest bank, UBS.