ZURICH (Reuters) – Julius Baer on Wednesday posted a 23.4% rise in half-year net profit to 606.0 million Swiss francs ($657.9 million), as strong markets and continued client inflows helped the Zurich-based wealth manager grow business.
“Following a record-high net profit in the first half of the year, we are entering the second half from a position of strength: fully focused on delivering on our strategy and prepared to capitalise on our position as employer of choice and to capture growth opportunities in our core markets as they arise,” Chief Executive Philipp Rickenbacher said in a statement.
It also said it was acquiring an 83% stake in Zurich-based real estate service provider Kuoni Mueller & Partner as part of a push to extend its real estate offering.
($1 = 0.9211 Swiss francs)
(Reporting by Brenna Hughes Neghaiwi, editing by Kirsti Knolle)
