Julius Baer Gruppe AG · SIX:BAER
Julius Baer Gruppe — Julius Baer Group — H1 2004 Earnings Presentation
11 slides from Julius Baer Gruppe's earnings presentation, Aug 13, 2004
Slide 1: Further improvement of earnings quality in the Julius Baer Group
Further improvement of earnings quality in the Julius Baer Group Walter Knabenhans CEO Media conference on 13 August 2004 Zurich
Slide 2: Assessment of half-year results (1)
Assessment of half-year results (1) Assets under management (CHF bn) 160 § Higher assets under management 140 thanks to substantial new money in Asset Management 120 64 § Stability of relationships with 100 58 56 54 66 institutional clients comparable to 80 47 relationships with private clients 60 §
Slide 3: Assessment of half-year results (2)
Assessment of half-year results (2) § Income: § Discontinuation of Brokerage revenues more than offset § Sustained improvement of earnings quality § Expenses: § Down due to sale of Brokerage § Increased performance-based compensation § Total results: § Good results and balanced profit contributions
Slide 4: Private Banking: first-half performance
Private Banking: first-half performance § Net new money § Modest growth rate § In line with market growth of Swiss offshore business § Improved operating efficiency § Structural adjustments § Slight increase in gross margin in direction of long-term target of 80-90 basis points § Selective recruitin
Slide 5: Private Banking: prospects
Private Banking: prospects § Growth prospects quite mixed in the various markets § Limited organic growth in the traditional Swiss offshore business § Examination of expansion opportunities in markets with intact growth prospects (e.g. onshore Europe, Eastern Europe, South & East Asia) § Evaluation
Slide 6: Asset Management: first-half performance
Asset Management: first-half performance § Assets under management § Opportunities in growth markets successfully exploited § Continuation of the exceptional new money inflows in the USA and the UK – mainly from institutional clients § Substantial new money inflows in Switzerland § Various new fund-
Slide 7: Asset Management: prospects
Asset Management: prospects § Significantly faster growth of institutional assets and investment fund assets than private assets at the moment § Targeted expansion of the product and service offerings (including diversification of the product ranges in the USA and the UK) § Further expansion of the
Slide 8: Trading & Sales: first-half performance
Trading & Sales: first-half performance § Very good results from client-oriented business § Disciplined and risk-aware trading behavior 8
Slide 9: Trading & Sales: prospects
Trading & Sales: prospects § Stronger positioning as an integrated provider § In global and Swiss foreign exchange trading § In Swiss securities (focus on small and mid caps), also in combination with capital market advice § Expansion of the broadly diversified client base § Especially with institut
Slide 10: Outlook
Outlook § Significantly faster growth of institutional assets and investment fund assets (with good and stable margins) set to continue § Management priorities: § Assurance of sustained earnings quality § Improvement of operating efficiency – among other things through a new IT platform 10
Slide 11: Julius Baer
Julius Bar True to you.