Julius Baer has experienced a significant increase in net new money during the period from July to October. Inflows have accelerated to 7.5 billion Swiss francs, which represents an annualized rate of 4.8%. This is a notable improvement compared to the 3.7 billion francs recorded in the first half of 2024.
The growth in net new money can be attributed to key markets in Europe, particularly Great Britain and Germany, as well as strong contributions from Asia, including Singapore and India, and the Middle East, especially the United Arab Emirates. Julius Baer has observed a significant decrease in the impact of customer deleveraging compared to previous years.
In addition to these developments, Stefan Bollinger has been announced as the incoming CEO, set to assume the role on January 9, 2025. The bank has also expanded its team of account managers, with the addition of 46 new full-time equivalents, bringing the total count to 1,389.