Julius Baer Suffered Tech Crash That Left Bank Offline (1)

Julius Baer Group AG suffered a crash of its core banking systems on Feb. 16 that left Switzerland’s second-largest listed wealth manager offline for some time, according to people familiar with the matter.

In a statement, Julius Baer confirmed the temporary outage of its IT systems late afternoon on Feb. 16 caused by “a technical connectivity issue” and added that it was fixed “within a short time.”

The failure of operating systems meant that clients — except some in Asia — were unable to make payments, trade or look at their portfolios during the period, the people said, asking not ...