ZURICH May 22 Swiss private bank Julius Baer
said on Monday its assets under management rose 6
percent in the first four months of the year to 356 billion
Swiss francs ($365.3 billion).
"The rise in AuM (assets under management) came on the back
of significant net inflows and market performance, partly offset
by the weakening of the U.S. dollar relative to the Swiss
franc," Baer, Switzerland's third-biggest private bank behind
UBS and Credit Suisse, said in an interim
Baer focused in 2016 on recruiting new private bankers to
attract new clients. It said this hiring had helped push net new
money inflows, a closely watched indicator of future earnings in
private banking, to the middle of its 4-6 percent target range
at the start of 2017.
($1 = 0.9745 Swiss francs)
(Reporting by Joshua Franklin; Editing by Himani Sarkar)