SWITZERLAND - The asset management division of Julius Baer saw its total assets under management (AuM) increase 22% over 2006, rising to CHF223bn (€137bn).
The asset management firm saw new money inflows of CHF21bn (representing a growth of 11%), while market performance brought in CHF23bn (although CHF3bn was lost to negative currency impact).
The asset management division is divided into Julius Baer Asset Management (Julius Baer AM) Europe and US, and GAM, Global Asset Management, which was bought from UBS in mid-2005.
Institutional clients account for 33% of Julius Baer AM’s AuM and 16% of GAM’s AuM.
In January of this year, the management buy out of Julius Baer’s London-based fixed income boutique, JB Investment (JB IL), was announced. The firm has been re-branded as Augustus Asset Managers.
The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have launched a refreshed ScamSmart campaign to warn savers about unsolicited pension communications.
Ann Harris OBE and Mike Dailly have been appointed non-executive directors at the upcoming single financial guidance body (SFGB).
Pension schemes are "placing too much focus" on a narrow section of the private debt market where competition is driving down "compelling opportunities", according to Willis Towers Watson.
Barnett Waddingham's head of business development Adrian Cooper has left the consultancy to join TPT Retirement Solutions in a newly-created role.