Julius Baer brings in $3.8 bln in net new money, missing forecasts

Swiss bank Julius Baer BAER.S on Friday reported net new money inflows of 3 billion Swiss francs ($3.8 billion) for the first four months of 2026, missing analyst expectations of 5.7 billion francs. Assets under management rose to 528 billion francs, driven by strong equity markets and net new money inflows, which together more than offset the negative impact of a further appreciation of the Swiss franc, Julius Baer said. "We continued to make solid progress on our strategic and operational priorities, keeping us firmly on track to achieve our medium-term targets," CEO Stefan Bollinger said. The bank attributed its lower annualised net new money pace of 1.7%, down from 2.7% in the second half of last year, to the continued implementation of a revised risk and compliance framework, heightened uncertainty due to the conflict in the Middle East and a pause in client releveraging. Julius Baer's four month management statement did not include an update about an ongoing review by Swiss financial watchdog Finma that precludes Julius Baer from announcing share buybacks. ($1 = 0.7861 Swiss francs)