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    Jon Peace

    Research Analyst at Credit Suisse

    Jon Peace's questions to Julius Baer Group (JBAXY) leadership

    Jon Peace's questions to Julius Baer Group (JBAXY) leadership • Q2 2022

    Question

    Jon Peace of Credit Suisse sought clarification on the full-year cost-to-income target, asking if "mid-60s" meant sub-67% or something more optimistic. He also inquired about the mechanics of the share buyback program, particularly if the CET1 ratio ended the year close to the 14% threshold.

    Answer

    CFO Evie Kostakis clarified the cost-to-income target is to be below 67%, in line with the 2020-22 strategic goals. Regarding the share buyback, she explained that the execution timing is linked to the capital level; a year-end CET1 ratio of 14.5% or 15% would likely lead to a faster buyback over a shorter period rather than no buyback at all.

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    Jon Peace's questions to Julius Baer Group (JBAXY) leadership • Q4 2015

    Question

    Jon Peace of Nomura asked for insight into how the company expects to position itself within the new 64% to 68% cost/income ratio target range over the medium term, considering growth and investment plans.

    Answer

    CFO Dieter Enkelmann expressed confidence in achieving a cost/income ratio within the new 64-68% range by 2018. He stated that this target accounts for normal client activity volatility, planned technology spending, and benefits from the 'Your Wealth' initiative. While the path might not be a straight line, the firm is confident in reaching the target within the three-year horizon.

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