Julius Baer Profit Advances as Wealthy Clients Trade More
- Bank reports 5 percent increase in first-half adjusted profit
- Clients are ‘back in the market’ after Brexit vote, CEO says
Collardi: Investors Back in the Market After Brexit Vote
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Julius Baer Group Ltd. reported an increase in first-half profit as Switzerland’s third-largest wealth manager added new client money and hired private bankers.
Net income climbed to 362 million Swiss francs ($367 million) from 39 million francs a year earlier, the Zurich-based company said in a statement on Monday. Excluding a year-earlier provision related to a U.S. tax probe, adjusted net income and adjusted earnings per share increased by 5 percent. Assets under management climbed 4 percent to a record 311 billion francs.