Julius Baer sets focused strategy to unleash its full potential through disciplined execution
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Julius Baer Group Ltd. / Key word(s): Strategic Company Decision Ad hoc announcement pursuant to Art. 53 LR
Zurich, 3 June 2025 – Stefan Bollinger, CEO of Julius Baer, said: “Since January, we have made a lot of progress on multiple fronts aimed at strengthening our organisation and the trust of all our stakeholders. The last 20 weeks only reinforced my conviction in the uniqueness of this franchise, the high quality and commitment of our employees, as well as the significant underlying business potential.” He added: “We now have a clear strategic agenda and priorities to capture future opportunities. I am excited as we embark on the next chapter of our transformation, and the team and I are fully committed to disciplined execution on our mid-term targets.” Investor update First 20 weeks: measures taken and strategy review process The Group introduced changes to its governance and management structures (including reduced Executive Board, new Global Wealth Management Committee, streamlined regional set-up, new Global Products & Solutions unit), enhanced risk management (including new focused risk organisation and leadership, review of credit book), and sharpened its operating model and footprint (including additional cost measures, new front operating model, new UHNW Competence Centre, exit of Brazil onshore, and entry of Italy onshore). Those measures also laid the foundation for the strategy review process, which has resulted in the following agenda to reignite profitable growth, drive operational efficiency and cost discipline, strengthen disciplined risk and compliance management, leverage technology, and foster a performance and ownership culture. Reigniting profitable growth in the core wealth management business To deliver on its growth ambition, the Group aims to: sharpen segmentation and coverage, enhance its product offering, strengthen top positions in core geographies, and increase the front productivity. This will require a clear prioritisation and stringent focus on delivering distinct client solutions for its high-net-worth and ultra-high-net-worth client segments across geographies, to reach a 4–5% net new money growth target by 2028. Driving operational efficiency and cost discipline Consequently, and to complement the growth ambition, the Group will implement further efficiency measures amounting to CHF 130 million by 2028, against an expected cost-to-achieve of approximately 50%. These additional savings will be achieved by completing the ongoing optimisation of the company’s operating model, process and IT simplifications, as well as by anchoring cost discipline. A particular emphasis will be placed on streamlining non-personnel expenses. This will come in addition to the extended gross cost savings target of CHF 110 million already announced in February 2025 as part of the 2023–2025 cost programme, anticipated to be exceeded by approximately CHF 20 million. Strengthening disciplined risk and compliance management Building on a set of measures to strengthen the risk functions, the Group has taken a major step by establishing a new Risk organisation under a new leadership, as communicated in the Interim Management Statement on 20 May 2025. Ivan Ivanic, currently Chief Credit Officer, has been appointed as new Chief Risk Officer, effective 1 July 2025. Leveraging technology to enable the business Performance and ownership culture Financial targets 2026–2028
Disciplined execution of the Group’s strategy will restore positive operating leverage and support consistent and reliable delivery on committed targets, leading to long-term value creation for its shareholders. Capital distribution policy Webcast for media Webcast for analysts and investors *In relation to the use of alternative performance measures, please refer to the Alternative Performance Measures paragraph at the end of this media release.
**Calculated on the basis of a pro forma constant CET1 capital ratio of 14%.
***Calculated on the basis of a pro forma constant CET1 capital ratio of 14%.
Contacts Media Relations, tel. +41 (0) 58 888 8888 Investor Relations, tel. +41 (0) 58 888 5256 About Julius Baer Julius Baer is present in over 25 countries and around 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, Shanghai, Singapore, Tel Aviv, and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base, and our entrepreneurial management culture make us the international reference in wealth management. For more information, visit our website at www.juliusbaer.com Cautionary statement regarding forward-looking statements These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause the Company’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and the Company’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. The Company and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this media release and any change in the Company’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation. Alternative Performance Measures Adjusted results are derived by excluding from the IFRS financial results the impact on operating income (new since 1 January 2025) or on operating expenses related to acquisitions or divestments of businesses or participations (i.e. M&A transactions) as well as the taxes on those respective items. The M&A-related adjustments can represent inter alia items such as gain or loss on disposal; recycling of currency translation adjustments; amortisation of acquired customer relationships; goodwill impairment charges; M&A-related restructuring costs (examples of which include employee termination benefits that relate directly to the restructuring; contract termination costs; onerous contract provisions; consulting fees that relate directly to the restructuring; expected costs from when operations cease until final disposal); fees paid to advisers on the planning, execution, or financing of M&A transactions; integration-related IT or other general expenses; additional provisions set up for litigation or the recovered amount from the seller. End of Inside Information |
| Language: | English |
| Company: | Julius Baer Group Ltd. |
| Bahnhofstrasse 36 | |
| 8010 Zurich | |
| Switzerland | |
| Phone: | +41 58 888 11 11 |
| E-mail: | info@juliusbaer.com |
| Internet: | www.juliusbaer.com |
| ISIN: | CH0102484968 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2149228 |
| End of Announcement | EQS News Service |
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2149228 03-Jun-2025 CET/CEST
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