The increase in assets under management comes as a relief to Bernhard Hodler, who was given little credit after taking over from the charismatic ex-boss of Julius Baer, Boris Collardi.
In its interim statement on Wednesday, Swiss-based Julius Baer published numbers that were better than expected, as finews.asia also reported.
The bank said that the improvement was «testimony to the sustained increase» in assets under management and earnings growth, which had been faster than the increase in costs due to investments in technology and the hiring of new relationship managers.
New Core Banking System in Asia
The private bank also reported that it successfully introduced the T24 core banking system developed by Temenos at its Asian division in March. The system is seen as the technological and operative basis for the further expansion of the bank in the region.
The company didn’t comment on potential risks from legal affairs. The private bank has seen its reputation tarnished slightly by an alleged implication into affairs surrounding Fifa, Venezuela and a Russian arms deal set up by a Swiss manufacturer.
Former Chief Risk Officer
Hodler incidentally had been the head of risk of Julius Baer before taking over from Boris Collardi, when the latter jumped ship in November 2017.
