FX.co ★ Julius Baer: 10-month AuM Up 12%; FY24 Net Profit To Significantly Exceed Prior Year

Julius Baer Group Ltd. (ticker symbols: JBARF.PK, JBAXY.PK) announced that during the first ten months of 2024, its Assets under Management (AuM) increased to 480 billion Swiss francs, marking a 12% rise since the beginning of the year. Total client assets have reached 570 billion Swiss francs. This growth in AuM is attributed to robust stock market performance and substantial net inflows amounting to 11 billion francs. The Group's Common Equity Tier 1 (CET1) capital ratio has strengthened to 16.7%. During this period, the gross margin declined to 83 basis points. The number of relationship managers at the company expanded by 46 full-time equivalents, bringing the total to 1,389.

The Group also anticipates that the International Financial Reporting Standards (IFRS) net profit for 2024 will notably surpass that of fiscal 2023.

Additionally, the Group has reaffirmed that Stefan Bollinger, appointed as the new CEO, will commence his role at Julius Baer on January 9, 2025.