Full Year 2019 Julius Baer Gruppe AG Earnings and Strategy Update Call Transcript
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Ladies and gentlemen, a very good morning to all of you on this unnaturally warm almost spring day out there if the weather was a little bit better. Warmly welcome to Julius Baer's 2019 results and our strategy update today. It's my great honor to be here with you today for the first time as the CEO of Julius Baer.
But without any delay, I hand over to Dieter Enkelmann for the results 2019.
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Thank you, Philipp, and good morning from my side. As usual in our presentation, the results are shown on the adjusted basis. In 2019, the adjustments were larger than in previous years due to the CHF 153 million provision, which we announced in December, linked to the claim by BvS in relation to events that, a long time ago, allegedly took place at Bank Cantrade, which UBS acquired in 2005 from UBS; and the
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