Julius Baer’s pure play pays off
COO Boris Collardi explains how his bank has gained momentum by doing the little things well.
"Our clients’ trust and confidence is increasing because they know we are doing just one thing and doing it very well"
UBS DISPOSED OVER the summer of a stake of 20.7% in Julius Baer equity worth about $3.3 billion. While that’s not a mistake to rank alongside its risk management failures in the sub-prime and mezzanine CDO markets, still it might have been better off holding on to it. Julius Baer’s stock has been a great investment in the past six months, far better than that of UBS itself and certainly far better than the billions of dollars-worth of toxic structured credits the big Swiss bank accumulated and has since written off.