Julius Baer sets more ambitious targets for 2025
(Corrects to show 5% drop in assets under management was "year-to-date" not "year-on-year" in first paragraph)
ZURICH, May 19 (Reuters) - Julius Baer BAER.S on Thursday confirmed its 2022 targets and presented new, more ambitious mid-term targets after assets under management fell 5% year-to-date at the end of April, the Swiss wealth manager said.
For the period from 2023 to 2025, Julius Baer targets an adjusted cost/income ratio of below 64% and an adjusted pre-tax margin of 28 to 31 basis points by 2025, Julius Baer said in a statement.
Julius Baer had previously targeted a cost-income ratio of below 67% and a pre-tax margin of 25-28 basis points by 2022.
Reporting by Silke Koltrowitz, Editing by Miranda Murray
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