Julius Baer Shares Slide After Strong Earnings Fail to Offset Weak Client Flows
Julius Baer Gruppe AG's stock dropped sharply after a four-month interim management statement showed materially better profitability but a much weaker-than-expected pace of client inflows. The bank reported adjusted profit before tax of 598 million Swiss francs, beating consensus by roughly 23%, and a cost-to-income ratio of 62%. However, net new m…