Swiss bank Julius Baer’s assets under management (AuM) have risen to CHF 264 billion in the first four months of 2014, a 4% rise from the end of 2013.
This total includes roughly CHF 53 billion AuM from Merrill Lynch’s International Wealth Management (IWM) business located outside the United States, which Julius Baer is in the final stage of transferring. Total client assets grew by 3% to CHF 359 billion.
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Moreover, the IWM asset transfers are said to be ‘on track’ as during the first four months of 2014, over 100 employees left the group, enabling the bank to make progress on their restructuring plans.
Other net drivers included continued net inflows and positive market performance, slightly offset by the negative impact caused by the appreciation of the Swiss franc versus a number of leading currencies, particularly the US dollar.
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