Julius Baer Group Ltd., the 121-year-old Swiss private bank, said managed assets were unchanged at 166 billion Swiss francs in the first 10 months of the year, from the end of June.
The bank said it has started lowering costs and plans to cut around 150 jobs.
EQUITIES: *Roche’s Humer sees no need for new cost-cutting, NZZ reported *Switzerland transfers Credit Suisse data, SonntagsZeitung said *UBS will name Ermotti as permanent chief, SonntagsZeitung reported *Sarasin assured staff over ‘independent position,’ SonntagsZeitung said *Raiffeisen makes ‘provisional’ Sarasin offer, Finanz und Wirtschaft reported *UBS cuts 10 Canadian staff, moving some fund management to CIBC *Sulzer buys Spanish pump maker Hidrotecar to grow water business *Credit Suisse plans to appeal a court decision on investor information *Swisscom will provide digital music storage, Tages-Anzeiger said *Mobimo Holding AG plans to raise as much as 200 million Swiss francs in a capital increase
ECONOMY/POLITICS: *SNB is ready to act on Swiss franc, Danthine was cited as saying in an interview with Finanz und Wirtschaft
MARKETS: *The benchmark SMI gained 1.5 percent to 5,649.03 *The SPI rose 1.5 percent to 5,146.15 *The Stoxx Europe 600 Index rose 2.4 percent to 240.98 *The MSCI Asia-Pacific Index rose to 118.86 at 7:20 a.m. Zurich time *Euro-franc traded at 1.23722 at 7:21 a.m. Swiss time