February 3, 2014 / 10:13 AM / 4 years ago

Julius Baer CEO says bank approached in forex probe

ZURICH, Feb 3 (Reuters) - Julius Baer said it has been approached by regulators probing alleged rigging in the $5.3 trillion-a-day foreign exchange market.

The Swiss private bank said it was in the process of clarifying its position internally. The issue appeared to be linked to staff joining from larger competitors, Chief Executive Boris Collardi said at a press conference for the bank’s full-year earnings.

Collardi did not elaborate on which regulator had approached the bank. Baer’s home regulator, FINMA, disclosed the probe in October. (Reporting By Katharina Bart; Editing by Erica Billingham)

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