Willis Palermo's questions to Julius Baer Group (JBAXY) leadership • Q4 2015
Question
Willis Palermo from Goldman Sachs questioned if capital return priorities have changed, asked for an update on the 'Your Wealth' program's implementation and client conversion, and sought details on the Kairos acquisition's financial impact.
Answer
CFO Dieter Enkelmann stated that capital priorities have not changed and the board will still consider special dividends or buybacks for excess capital, but noted upcoming acquisitions (Kairos, Commerzbank Lux) will impact capital by about 2 percentage points. CEO Boris Collardi added that 'Your Wealth' is gaining momentum with up-selling observed, and a detailed update will be provided in July. He also confirmed the full AuM of Kairos will be consolidated.