Late-2016 pick-up sees Julius Baer hit target for drawing in new money

Zurich

AN END-OF-THE-YEAR pick-up in asset gathering helped Julius Baer hit its target for taking in new client money, the Swiss private bank said in full-year 2016 results on Wednesday.

Switzerland's third-biggest private bank said it brought in 12 billion Swiss francs (S$17.1 billion) in net new money in 2016, a growth rate of 4 per cent and at the bottom end of its 4-6 per cent medium-term target range.