Michael Klien's questions to Julius Baer Group (JBAXY) leadership • H1 2023
Question
Michael Klien from Zürcher Kantonalbank asked for a regional breakdown of the recent relationship manager hires. He also had curiosity-driven questions about the nature of CHF 481 million in unrated debt instruments and the reason for a CHF 55.7 million increase in legal provisions.
Answer
CEO Philipp Rickenbacher said that new hires came from all key geographies in line with the bank's nine focus markets. He explained the increase in legal provisions was a prudent reassessment of outstanding cases. CFO Evie Kostakis clarified that the unrated debt instruments were simply financial paper without a formal rating.