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    BAER   CH0102484968


Delayed Swiss Exchange  -  05/16 11:31:45 am EDT
47.16 CHF   -0.23%
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Julius Bär Gruppe : Baer strengthens its intermediaries business in Spain with a newly established team

01/20/2022 | 06:31am EDT

Julius Baer has created a new team, headed by Claudio Beretta, to serve Spanish intermediaries clients from Madrid. Claudia Linares joined the bank together with Jorge Saavedra Doménech in mid-January 2022 to drive Julius Baer's intermediaries business in Madrid and across Spain.

Zurich / Madrid, 20 January 2022 - Swiss bank Julius Baer has established a new team to serve intermediaries clients in Spain, underlining the bank's overall commitment to the Iberian market. Claudio Beretta, who joined Julius Baer in Switzerland in 2011 and has almost 25 years' experience in the intermediaries market, will lead the team from its base in Madrid. He has held several management positions at the bank, most recently leading its intermediaries business in French- and Italian-speaking Switzerland and in Monaco.

The development of the Intermediaries Spanish market will be under the responsibility of the new team around Claudia Linares, who joined the bank in mid-January 2022. Claudia Linares, executive director, has over 23 years' experience in the financial industry and was a member of the Financial Intermediaries Spain team at UBS Madrid from 2010 onwards. In 2019, she became responsible for Financial Intermediaries Spain for UBS. Prior to 2010, she held various positions at UBS in Spain and in private banking at Lloyds TSB Bank PLC.

The team also includes Carlos Navarro Sabán, who has served Julius Baer successfully in his role as Business Developer Intermediaries in Spain since 2018 after spending three years as Investment Advisor at Julius Baer's headquarters in Zurich, and Jorge Saavedra Doménech, who joined Julius Baer in mid-January 2022 after 14 years with UBS in Spain, the last five of which as Team Head of the Middle Office in the Financial Intermediaries business. From 1998 until 2007, Jorge held several roles at Banco Inversis and Banco Santander in Spain. In the coming months, Julius Baer will strengthen the team with additional new hires.

Claudio Beretta, Head Intermediaries Western Europe and Head Intermediaries Iberia Julius Baer, said: "I am delighted to announce the hiring of Claudia and Jorge, who are both proven experts in our field and will form our newly created team in Spain together with Carlos. With their backgrounds, experience and understanding of the local business, the team is perfectly equipped to successfully develop Julius Baer's intermediaries business in Spain. Drawing on decades of experience in empowering sophisticated intermediaries worldwide, the team starts its activities with a strong foundation and with a comprehensive offering that is specifically designed to cater to the needs of professional intermediaries and multi-family offices looking for wealth planning, wealth management and wealth financing solutions. This step also reflects the overall Bank's strategic conviction to further strengthen our presence in Western Europe and particularly in Spain."


Julius Bär Gruppe AG published this content on 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 11:30:07 UTC.

© Publicnow 2022
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Sales 2022 3 837 M 3 822 M 3 822 M
Net income 2022 1 047 M 1 043 M 1 043 M
Net Debt 2022 1 276 M 1 271 M 1 271 M
P/E ratio 2022 9,38x
Yield 2022 5,66%
Capitalization 9 867 M 9 829 M 9 829 M
EV / Sales 2022 2,90x
EV / Sales 2023 2,66x
Nbr of Employees 6 727
Free-Float 97,7%
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 47,27 CHF
Average target price 66,49 CHF
Spread / Average Target 40,7%
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Managers and Directors
Philipp Rickenbacher Chief Executive Officer
Dieter A. Enkelmann Chief Financial Officer
Romeo Lacher Non-Executive Chairman
Nic Dreckmann Chief Operating Officer & Head-Intermediaries
Yves Bonzon Chief Investment Officer
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