Peter Casanova's questions to Julius Baer Group (JBAXY) leadership • Q4 2015
Question
Peter Casanova from Kepler Cheuvreux sought clarification on the combined AuM percentage of Switzerland and Asia and questioned whether the group's tax rate would rise over time due to expected growth in high-tax regions.
Answer
CFO Dieter Enkelmann confirmed that Switzerland and Asia together represent slightly less than 40% of total AuM. He stated that the tax rate is expected to remain between 16-17% in the foreseeable future, as key growth markets like Hong Kong, Singapore, and the U.K. have lower tax rates than Switzerland, and the firm has tax loss carry-forwards in Germany and the U.K.