Zurich, Switzerland
Julius Baer boosts net profit by 31% to CHF 1,137 million* - assets under management at CHF 405 billion.
"2007 has been another very successful year for the Julius Baer Group", says Johannes A. de Gier, Group CEO of Julius Baer Holding Ltd. "By focusing exclusively on our core competences, private banking and asset management, we have managed to serve the interest of both our clients and our shareholders very well. We have grown our global footprint considerably whilst reducing our cost/income ratio from 59.5% to 56.7%. Even in market circumstances under which capital preservation will gain much more emphasis, we are well positioned to grow our global franchise as well as our profits".
The Julius Baer Group strongly increased its profit before taxes by 28% from CHF 1,131 million to CHF 1,449 million in 2007 and its net profit by 31% from CHF 868 million to CHF 1,137 million*. Earnings per share (EPS) went up by 34% to CHF 5.28. Assets under management rose by 12% to CHF 405 billion at the end of 2007. Net new money was CHF 35 billion (2006: CHF 27 billion), with the segment Bank Julius Baer contributing CHF 18 billion and the segment Asset Management CHF 17 billion. (*In 2006 and 2007, integration and restructuring expenses, amortisation of intangible assets and significant financial events (in 2006 only) are excluded from the data.)
The Julius Baer Group is the leading dedicated wealth manager in Switzerland. The Group, which has roots dating to the nineteenth century, concentrates exclusively on private banking and asset management for private and institutional clients. The Julius Baer Group's global presence comprises more than 30 locations in Europe, North America, Latin America and Asia, including Zurich (Head Office), Buenos Aires, Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, New York, Singapore and Tokyo. Bank Julius Baer, GAM, a leading global active asset manager, and Julius Baer Investment Management, renowned for its international equity strategies, are the key companies of the Group. The shares of Julius Baer Holding Ltd. are listed on the SWX Swiss Exchange and form part of the Swiss Market Index SMI which comprises the 20 largest and most liquid stocks.
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Source: Business Wire (Business Wire India)