Julius Baer shares slide on profit miss, tepid cash inflows

wiss private bank Julius Baer’s (BAER.S), opens new tab shares fell 10% on Thursday after the wealth manager missed profit forecasts and reported only a tepid increase in cash inflows from rich clients.

The first half results were the latest blow for Julius Baer which has had a tumultuous start to 2024 with CEO Philipp Rickenbacher exiting after the bank reported losses of 586 million Swiss francs ($663.80 million) on loans to collapsed property giant Signa.

Source: REUTER