Julius Baer CEO prepared for extra acquisitions

Julius Baer Chief Govt Philipp Rickenbacher addresses the Finanz und Wirtschaft Discussion board convention in Zurich, Switzerland September 2, 2020 REUTERS/Arnd Wiegmann

ZURICH, July 25 (Reuters) – Julius Baer (BAER.S) expects to extend its takeover actions as market turbulence weeds out corporations within the wealth administration sector, Chief Govt Philipp Rickenbacher stated on Monday.

“M&A-based consolidation is clearly a chance,” Rickenbacher advised reporters after the Swiss financial institution reported its first half earnings. learn extra

“The present market setting will definitely carry away a number of the tailwinds that the trade has had within the final years, and I’d anticipate the approaching quarters, if not years, to be extra supportive for M&A alternatives. We will likely be prepared for these.”

Reporting by John Revill, Modifying by Miranda Murray

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