Bloomberg News

Julius Baer to Gain From Clariden Outflows, SonntagsZeitung Says

July 22, 2012

Julius Baer Group Ltd. (BAER) results tomorrow may reveal that the bank profited from new money inflows at the expense of Clariden Leu AG, SonntagsZeitung reported, citing people familiar with the matter.

Much of the 3.4 billion Swiss francs ($3.44 billion) that clients have withdrawn from Clariden Leu since it was acquired by Credit Suisse Group AG has been transferred to Baer, the Swiss newspaper cited the people as saying, without naming them.

To contact the reporter on this story: Leigh Baldwin in Zurich at lbaldwin3@bloomberg.net

To contact the editor responsible for this story: Mariajose Vera at mvera1@bloomberg.net


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