Julius Baer: Interim Management Statement for the first ten months of
2009
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Total client assets up 22% to CHF 234 billion against year-end 2008 -Continued positive net inflows - Cost/income ratio maintainedZurich, 10 November 2009 --- Supported by the overall improved marketenvironment since the second quarter of 2009, the Julius Baer Group'stotal client assets increased to CHF 234 billion at the end ofOctober 2009. Assets under management (AuM) increased toapproximately CHF 150 billion, up 17%, not factoring in the announcedacquisition of ING Bank (Switzerland) Ltd ('ING Bank') which is stillto be completed.The continued recovery of most investment categories until recentlyresulted in a positive market performance, while the currency impactremained neutral overall. Net new money remained favourable with allregions contributing positively year to date, yet at a slower pacesince mid-year 2009. Supported by the growing number of relationshipmanagers, the Julius Baer Group continued to record healthy inflowsacross all regions, particularly pleasing again from the growthmarkets. The generally tense regulatory environment in some of theEuropean countries, however, is leading to some clients relocatingassets. In addition, the Julius Baer Group has initiated a phasedexit from its US client business.As anticipated, the return on assets is tending lower compared to thefirst half of 2009, mainly influenced by the tightening of interestrate spreads, the continued yet moderate improvement of clientactivity from low levels and the fact that clients are stillsubstantially invested in cash or cash-equivalent products. Withongoing cost-efficiency programmes well containing the Group'sexpense base, the cost/income ratio remained stable compared to thefirst six months of 2009. The ING Bank transaction is still expectedto be closed in the first quarter of 2010. The integration processhas been initiated.The Julius Baer Group continues to maintain a sound balance sheet anda solid capital base. Considering the USD 300 million proceeds fromthe Artio Global IPO concluded by the end of September 2009, the BISTier 1 ratio of the Julius Baer Group continued to exceed 19%, wellabove the target of 12%.Contacts:Media Relations Tel. +41 (0)58 888 8888Investor Relations Tel. +41 (0)58 888 5256About Julius BaerThe Julius Baer Group is the leading Swiss pure private bankinggroup, with an exclusive focus on servicing and advising privateclients. Julius Baer's total client assets amounted to CHF 234billion at the end of October 2009, with assets under managementaccounting for some CHF 150 billion. With origins dating back to1890, Bank Julius Baer & Co. Ltd. is both the principal operatingcompany and renowned Swiss private bank of the Julius Baer GroupLtd., whose shares are listed on the SIX Swiss Exchange and form partof the Swiss Market Index (SMI), which comprises the 20 largest andmost liquid Swiss stocks.Julius Baer employs a staff of over 3 000 in more than 20 countriesand some 40 locations, including Zurich (head office), Buenos Aires,Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Milan, Moscowand Singapore.For more information visit our website at www.juliusbaer.com --- End of Message ---Julius Baer Group Ltd.Bahnhofstrasse 36, P.O. Box Zurich SwitzerlandISIN: CH0102484968; Index: SLCI, SMI, SMIEXP, SPI;Listed: Main Market in SIX Swiss Exchange;
Datum: 10.11.2009 - 07:01 Uhr
Sprache: Deutsch
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