Asset increase at Julius Baer

Michael Bow
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JULIUS Baer, the Swiss private bank, yesterday revealed a five per cent upswing in assets under management – taking its assets to a record high of SFr179bn (£116.5bn).

The firm said the SFr8.5bn increase in assets since December 2011 was driven by SFr5.5bn of net new money, mainly from growth markets and its local private banking business in Germany.

Chief executive Boris Collardi said it was “well on track” to hit its target.