|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||44.11 - 45.12|
|52-week range||44.11 - 45.12|
|Beta (5Y monthly)||1.50|
|PE ratio (TTM)||0.09|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
ZURICH (Reuters) -Swiss wealth manager Julius Baer will freeze hiring for non relationship manager positions after higher costs and lower client activity triggered a 26% drop in first half earnings. The bank, which competes with UBS and Credit Suisse in managing the investments of ultra wealthy clients, said on Monday it would accelerate "cost discipline" in the second half of the year after its cost/income ratio rose to 67% from 61% a year earlier. Chief Executive Philipp Rickenbacher said there were no immediate plans for lay-offs at the bank which has seen its headcount rise by 71 people this year, to 6,798 staff by the end of June.
Julius Baer will no longer charge negative interest rates on client deposits in euros, Swiss francs or Danish krone, the Swiss private bank said on Friday, citing the European Central Bank's Thursday decision to hike its main interest rate to 0%. The decision by the Swiss National Bank to raise its policy rate from -0.75% to -0.25% last month was another factor in the bank's decision, which will apply from Aug. 1, it said.
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