Q1: How did the business perform in 2025, and what drove its growth over the past year? How has the cost-income ratio trended this year, and what were the key factors influencing it? Looking ahead, what are your main priorities and strategic plans for 2026? 

2025 was a year of disciplined progress for Julius Baer. Despite a complex global backdrop, we maintained steady profitability and continued to strengthen our cost-income ratio through targeted efficiency measures and a deliberate focus on quality growth. 

Assets under management (AUM) reached a record CHF 520 billion (US$645 billion) by 31 October 2025, crossing the half-trillion mark for the first time in the Group’s history, on the back of solid net new money of CHF 11.7 billion year to date, despite ongoing de-risking, and rising stock markets more than offsetting the impact of a significantly stronger Swiss franc. Our results reflect the success of our long-term strategy: to balance stability with innovation and to keep client service at the centre of everything we do. 

Our business expanded in key markets across Asia, particularly Hong Kong and Singapore, which now represent more than a quarter of Group AUM. We also invested substantially in digital infrastructure, improving both our front- and back-office processes. These initiatives are delivering sustainable cost benefits while enhancing the client experience, an outcome we regard as a benchmark of operational excellence. 

Looking ahead to 2026, my priorities are threefold. First, to deepen client relationships by strengthening our advisory capabilities and multi-generational wealth offering. Second, to continue investing in digital platforms that provide agility and scalability. Third, to reinforce our leadership position in risk management and governance. 

We will continue to focus on sustainable growth in markets where Julius Baer’s expertise in cross-border wealth planning, client-centric service, and financial stability provides a competitive edge. Our objective remains clear: to deliver consistent value to clients and shareholders, guided by prudence, integrity, and long-term vision. 

Q2: With artificial intelligence increasingly shaping the wealth industry, how has the firm leveraged technology and AI to transform processes and enhance value for both clients and the back office? What key technology upgrades were introduced in 2025, and what are your digital priorities for 2026 and beyond? 

Artificial intelligence has moved from concept to capability, and we see it as both a strategic asset and a responsibility. Our goal is to harness technology to serve people better, to enhance judgment, not replace it. 

In 2025, we launched our Data & Innovation Unit, anchored in Singapore and Zurich, to lead our global transformation agenda. The unit has already delivered tangible results: automated transcription workflows saving thousands of hours annually, advanced analytics improving client engagement, and real-time risk modelling enhancing portfolio oversight. These tools free our advisors to focus on what truly matters: strategic guidance and personal connection. 

We also rolled out Julius AI (JAI), our GenAI platform launched in late 2024. It is now the bank’s fastest-adopted internal tool, with over 4,000 weekly active users globally. JAI automates routine documentation, meeting summaries, and multilingual client communications, driving consistency and efficiency across jurisdictions. 

Looking forward, our digital priorities for 2026 revolve around deeper integration. We are expanding AI-assisted analytics to provide advisors with predictive insights, scenario planning, and customised client dashboards. Importantly, every recommendation remains reviewed by human experts, ensuring that technology amplifies expertise while safeguarding discretion. 

The future of wealth management will be defined by those who combine data intelligence with human insight. We are building precisely that equilibrium: a digital ecosystem rooted in trust, transparency, and thoughtful innovation. 

Q3: With regulatory scrutiny and compliance requirements intensifying across the wealth industry, what updates can you share on how your firm is strengthening governance and compliance frameworks? How are you proactively managing risks while ensuring a seamless experience for clients? 

Regulation is not a constraint; it is a cornerstone of trust. We view governance and compliance as integral to client confidence and long-term sustainability. In an era of heightened scrutiny, our approach is proactive, principle-based, and embedded across all layers of the organisation. 

Over recent years, we have strengthened our governance architecture through enhanced risk controls, independent oversight, and advanced data monitoring. We have invested significantly in technology to improve transparency and early detection of irregularities. Our compliance teams work in close partnership with business units to ensure accountability without impeding agility. 

We have also deepened our training programmes, ensuring every employee, from new joiners to senior management, understands their role in upholding ethical and regulatory standards. Regular scenario exercises and Board-led reviews ensure that oversight remains robust and dynamic. 

Equally important, we recognise that clients expect compliance to be seamless. We have streamlined documentation processes and introduced intelligent verification systems to simplify client onboarding while preserving the highest standards of due diligence.

Ultimately, effective governance is not about adhering to rules; it is about cultivating integrity. Our mission is to ensure that every decision reflects sound judgment, transparency, and accountability. This discipline safeguards clients, strengthens our reputation, and underpins our ambition to lead through trust. 

Q4: The private banking industry saw a plethora of leadership and structural changes in 2025. Looking into 2026, what are your key priorities for attracting and retaining talent across the front, middle, and back office? Are there plans for new hires in key markets?

People remain our greatest differentiator. Talent is both our foundation and our future. We’ve built an environment that values initiative, collaboration, and long-term growth — one that enables individuals to thrive while driving client success. 

Our key priority in 2026 is to sustain and expand that culture. We are investing in leadership development, mentorship, and cross-border mobility to create a diverse, high-performing workforce. Our flat structure fosters direct accountability and faster decision-making, empowering teams to act with clarity and purpose. 

We continue to recruit selectively in growth markets, particularly in Asia, where our business footprint is deepening. However, our focus is as much on development as acquisition. We invest heavily in our people, recognising that expertise and integrity cannot be replicated overnight. 

Our flagship Associate Relationship Manager Programme exemplifies this philosophy. It nurtures high-potential graduates into trusted advisors through rigorous training and real-world exposure, building a pipeline of professionals ready to lead with conviction and empathy. 

Talent thrives at Julius Baer because we nurture growth, leadership, and continuity. We don’t just manage wealth — we cultivate the people who will preserve and grow it for generations to come.