Julius Baer (BAER.S) would need to raise capital from the market to fund acquisition of banks with assets under management of more than 20 billion Swiss francs ($20.15 billion), Chief Executive Boris Collardi said on Wednesday.
“We raised our asset base by 36 billion (in 2016). This is a good number to keep in mind. I think anything above 20, 25 billion does something that would still move the needle,” Collardi said in an interview following the Swiss private bank’s full-year results.
“For the sizes that I’ve mentioned, we would have to go to market. I’m confident that if and when we would go to market we would present something that would make a lot of sense.”
Source: Reuters.com