Julius Baer aims to increase assets by 59%

Swiss private bank Julius Baer, which focuses on servicing high net worth individuals and independent asset managers, aims to increase assets under management by about 59 percent over the coming two years as the firm expands globally, the bank's CEO said.

"My personal objective is to be above the bar of CHF300bn (US$322bn) by the end of 2015," Boris Collardi, who has been chief executive of Julius Baer Group since 2009, said in an interview with Arabian Business. "That puts us in a nice comfortable position with approximately 50 offices around the world by then and that should allow us to finance the growth."  

The Swiss wealth manager increased assets under management 11 percent last year to CHF189bn from 2011 as market performance improved and net inflows increased 5.7 percent. As part of its strategy to boost its presence globally, Julius Baer acquired last year the wealth management units of Merrill Lynch outside the US. The integration of Merrill will potentially increase Julius Baer's existing financial adviser base by as much as 64 percent.

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