Julius Baer chief executive Philipp Rickenbacher, said in an interview with a German newspaper that doubling assets under management at the Swiss pure-play was possible, though he did not provide a timeline.
Swiss private bank Julius Baer could reach 1 trillion Swiss francs ($1.12 trillion) in assets under management, more than double its current 429 billion francs, CEO Philipp Rickenbacher, said in an interview with «Handelsblatt» (behind paywall).
«We have deliberately never formulated that as a target with a fixed time frame. But we are in growth mode and such ambitions are not unrealistic,» he said.
Ex-CS Clients
On Credit Suisse, Rickenbacher said attracting former clients of the fallen Swiss lender will take time, though there will be «some redistribution of market share» in the long term. «Perhaps the market has overestimated the speed of the shifts. High net worth individuals take their time making these decisions,» he explained.
