Julius Baer presents additional information on the acquisition o

Julius Baer presents additional information on the acquisition of the
International Wealth Management business of Bank of America Merrill Lynch
outside the United States and Japan

  *Following the announcement on 13 August 2012, Julius Baer management will
    today present additional information to analysts and investors regarding
    the acquisition of the International Wealth Management business (IWM) of
    Bank of America Merrill Lynch outside the United States and Japan.
  *The presentation will include further details on IWM's financials, a
    discussion on the transaction mechanics, the expected timing, and the
    economics related to the transfer of IWM's financial advisers (FAs) and
    assets under management (AuM) onto the Julius Baer platforms, as well as
    targeted profitability improvement measures.
  *Today, Julius Baer also publishes a trading update covering the first
    eight months of 2012.
  *The presentation to the financial community, which will take place in
    London and will commence at 12:00 local time (13:00 CET), will be
    available via live webcast on the Julius Baer website,
    www.juliusbaer.com/webcast.
  *The slides for the presentation are available from our website on the same
    web page.

Today, Boris F.J. Collardi, CEO of the Julius Baer Group, and Dieter A.
Enkelmann, CFO, will present to equity analysts and investors in London
additional information on the acquisition of the International Wealth
Management business (IWM) of Bank of America Merrill Lynch outside the United
States and Japan.

The presentation describes in further detail the transfer of financial
advisers (FAs) and assets under management (AuM) from IWM to Julius Baer as
part of the acquisition and distinguishes between the various types of sales,
including the bank sale in Switzerland, transfers as part of (non-bank) legal
entity sales (e.g. Uruguay, UK, Spain, India), and business transfers (e.g.
Hong Kong, Singapore).

The presentation will be webcast live on the internet via
www.juliusbaer.com/webcast. The slides for the presentation are available from
our website on the same web page.

Of total AuM expected to be acquired, approx. 80% is estimated to be reported
by end 2013

Additional details on Julius Baer's expectations for the timing of FA and AuM
transfers along with the associated financial impact for Julius Baer over the
integration period will also be presented. These transfers will start
following the principal closing which is now expected to take place in the
first quarter of 2013. Based on Julius Baer's current integration targets,
approximately 80% of the total AuM expected to be acquired are estimated to be
reported at Julius Baer by the end of 2013.

Finally, Julius Baer will set out targeted profitability improvement measures
relative to the historical cost base of IWM, which will include a significant
reduction of former Bank of America corporate overhead and other allocations
not required going forward in the Julius Baer structure, rightsizing measures
for the middle and back office functions of the combined group, as well as
further benefits stemming from leveraging further scalability effects. As a
result, Julius Baer is targeting to reduce the pro forma combined staff base
of approximately 5,700 in over 50 locations by 15% to 18%. This is expected to
lead to a stand-alone implied cost-income ratio of approximately 70% and a
stand-alone implied pre-tax profit margin on an adjusted profit basis of
approximately 25 basis points for the IWM business on Julius Baer's platform
in 2015. At that time, the effective tax rate for the combined Julius Baer
Group is currently expected to be below 16% (on an adjusted profit basis).

Julius Baer expects that the transaction will be at least EPS neutral in 2014
and is targeting EPS accretion of 15% in 2015. This accretion target is on the
basis of adjusted profit, i.e. excluding transaction, integration and
restructuring expenses and amortisation of intangible assets related to
acquisitions or divestitures; based on the closing share price prior to the
announcement of the transaction on 13 August 2012; taking targeted capital
ratios into account for the calculation; and relative to a scenario in which
the acquisition does not take place and the Julius Baer Group does not
undertake any share buybacks until the end of 2015.

The presentation also includes information derived from the audited combined
financial statements for IWM as at and for the years ended 31 December 2011
and 2010, prepared in accordance with IFRS. It also includes the reviewed
interim combined financial statements for IWM as at and for the six months
ended 30 June 2012, prepared in accordance with IAS 34.

Trading update of Julius Baer Group as of end of August 2012

As at the end of August 2012, Julius Baer Group's AuM increased to a new
record high of CHF 184 billion, an increase of CHF 14 billion, or 8%, since
the end of 2011. Total client assets grew to CHF 276 billion, an increase of
CHF 18 billion, or 7%. The increase in AuM resulted from continued net new
money inflows close to the top end of the Group's medium-term target range, a
positive market performance impact supported by sustained gains in the global
equity and bond markets, as well as a positive currency impact, mainly from
the strengthening of the US dollar. Partly impacted by a small contraction in
client activity over the summer period, the gross margin in the first eight
months was slightly lower than the 98 basis points reported for the first six
months of 2012 and as a result the cost-income ratio was slightly higher than
the cost-income ratio reported for the first six months of 2012. As at the end
of August, the Group's BIS total capital ratio was 24.8% and its BIS tier 1
ratio 22.4%. In September, Julius Baer successfully raised CHF 250 million in
additional non-core tier 1 capital, as part of its financing of the IWM
acquisition.

Contacts

Media Relations, Tel. +41 (0)58 888 8888

Investor Relations, Tel. +41 (0)58 888 5256

About Julius Baer

Julius Baer is the leading Swiss private banking group, with an exclusive
focus on servicing and advising private clients. Julius Baer's total client
assets amounted to CHF 276 billion at the end of August 2012, with assets
under management accounting for CHF 184 billion. Bank Julius Baer & Co. Ltd.,
the renowned Swiss private bank with origins dating back to 1890, is the
principal operating company of Julius Baer Group Ltd., whose shares are listed
on the SIX Swiss Exchange (ticker symbol: BAER) and form part of the Swiss
Market Index (SMI) of the 20 largest and most liquid Swiss stocks.

Julius Baer employs a staff of over 3 600 in more than 20 countries and over
40 locations, including Zurich (head office), Dubai, Frankfurt, Geneva, Hong
Kong, London, Lugano, Milan, Monaco, Montevideo, Moscow, Shanghai and
Singapore.

For more information visit our website at www.juliusbaer.com

Presentation (Handout)

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