Julius Baer reports surge in new money as cost cuts begin to pay off
19 October 2020 - 19:22
New York — Julius Baer on Monday reported a better-than-expected increase in new money and improving profitability in the third quarter, as markets recovered and cost cuts began to pay off.
Inflows accelerated “considerably” in the three months through to end-September as global markets recovered from the coronavirus pandemic, Switzerland’s third-biggest wealth manager said without being more specific. Falling expenses helped cushion the blow of a slowdown in trading income and a writedown at its Italian asset management business...
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