Julius Baer on Tuesday ( June 3 ) unveiled fresh targets “to drive top-line growth and restore positive operating leverage” during the three years commencing in 2026.

These include improving net new money to 4-5% and adjusted cost/income ratio to less than 67% by 2028, as well as an adjusted return on CET1 capital of at least 30% over the cycle.

The Swiss wealth manager is aiming to achieve savings of 130 million Swiss francs ( US$158.73 million ) by 2028, against an expected cost-to-achieve of approximately 50%.

It aims to accomplish this by completing the ongoing optimization of the company’s operating model, process and IT simplifications, as well as by anchoring cost discipline. There will be a particular emphasis on streamlining non-personnel expenses.

The new target is on top of the gross cost savings target of 110 million Swiss francs already announced in February 2025 as part of the group’s 2023–2025 cost programme, which it expects to be exceeded by approximately 20 million Swiss francs.

The group’s updated medium-term targets followed the appointment of Stefan Bollinger as the new chief executive officer CEO in January 2025 and the election of Noel Quinn as board chairman in May.

“Since January, we have made a lot of progress on multiple fronts aimed at strengthening our organization and the trust of all our stakeholders,” Bollinger says. “The last 20 weeks only reinforced my conviction in the uniqueness of this franchise, the high quality and commitment of our employees, as well as the significant underlying business potential.”

The company’s shares were down 1.3% in early afternoon trading in Zurich.