Julius Baer Reports Strong Net Profit and Attracts More Assets: Zurich-based wealth management firm Julius Baer saw its net profit increase 18 percent in the first half. Assets under management increased as more relationship managers were… EnglishNews
Julius Baer reported a net profit attributable to shareholders of 532 million Swiss francs for the first half of the year, an 18 percent increase from a year ago while operating income was up 9 percent with higher interest rates offsetting a decline in commission and fee income, according to mid-year results released Monday.
«A complex environment has not hindered us from achieving a strong start to the current strategy cycle – on the contrary, it has even allowed for a tactical acceleration of our push for scale in our key markets,» said CEO Philipp Rickenbacher.Favorable stock and bond markets helped boost assets under management by 17 billion francs to 441 billion, an increase of 4 percent.
Net new money was 7.1 billion during the first half, accelerating in the last two months of the second quarter, according to the report. The result was a welcome one compared to a year ago when Baer reported outflows of 1.1 billion. Clients continued to de-leverage in a reflection of current market conditions.Earlier this year, Julius Baer chairman Romeo Lacher said that by 2030 the firm could «absolutely» manage a volume of one trillion Swiss francs in client assets.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
«Schweizer Pensionskassen haben wenig Interessen an Kryptowährungen»Digitale Assets bieten den langfristig orientierten Investoren attraktive Renditen. Trotzdem setzen Pensionskassen auf Megatrends.
Read more »
«Schweizer Pensionskassen haben wenig Interessen an Kryptowährungen»Digitale Assets bieten den langfristig orientierten Investoren attraktive Renditen. Trotzdem setzen Pensionskassen auf Megatrends.
Read more »
SIX Posts Lower Profit Despite Higher Operating IncomeSIX Posts Lower Profit Despite Higher Operating Income: Swiss exchange operator SIX reports higher operating income but lower profit for the first half of 2023. six exchange
Read more »
Leonteq's First Half Net Profit Hit by Lower VolatilityLeonteq's First Half Net Profit Hit by Lower Volatility: Swiss fintech Leonteq posted a first-half group profit that exceeded analyst expectations, although the results were less favorable than a year ago. Lower market volatility weighed on… EnglishNews
Read more »
Julius Baer Relocates to New Office In IndiaJulius Baer Relocates to New Office In India: Zurich-headquartered Julius Baer is moving to a new office in New Delhi as part of its growth drive in India. JuliusBaer NewDehli
Read more »
Julius Baer Says Doubling AUM «Not Unrealistic»Julius Baer Says Doubling AUM «Not Unrealistic»: Julius Baer chief executive Philipp Rickenbacher reportedly said that the doubling of assets under management at the Swiss pure-play was possible, though he did not provide a… JuliusBaer CreditSuisse
Read more »