Julius Baer has announced new financial goals for the coming three-year period, including SFr130m ($159m) in cost cuts by 2028.

This follows the previously announced gross cost savings target of SFr110m ($133.9m) as part of the 2023–2025 cost programme.

For the strategic cycle 2026 to 2028, Julius Baer targets a net new money growth of 4–5% and an adjusted return on Common Equity Tier 1 capital (RoCET1) of at least 30%.

It also seeks to achieve an adjusted cost/income ratio of less than 67% by 2028.

The focus will be on optimising the operating model, simplifying processes and IT systems, and maintaining strict cost discipline, particularly in non-personnel expenses.

Over the past 20 weeks, Julius Baer has undertaken various measures to enhance transparency, accountability, and client focus while streamlining management processes.

Changes to governance structures have included a reduced executive board, the establishment of a new global wealth management committee, and the creation of a new global products and solutions unit.

The group has also improved risk management through a focused risk organisation and leadership, alongside a review of its credit book.

Julius Baer is also committed to improving its risk and compliance management processes, which includes establishing a new risk organisation led by Ivan Ivanic, appointed as chief risk officer, effective 1 July 2025.

Additionally, the group plans to invest in digital transformation to enhance the client experience and support front employees.

A new digital business transformation unit has been created, and an IT infrastructure project is underway in Switzerland.

Julius Baer CEO Stefan Bollinger said: “Since January, we have made a lot of progress on multiple fronts aimed at strengthening our organisation and the trust of all our stakeholders.

“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.”

In April, Julius Baer also announced an organisational overhaul to streamline operations, setting up a new Global Products & Solutions unit and reorganising its client business into three global regions.