Julius Baer Group Posts Rise In Profit

Julius Baer Group Ltd. JBAXY reported a rise in its net profit for the full year. Its IFRS net profit for the period jumped 96% to 367 million Swiss francs. The company's adjusted net profit gained 22% to 586 million francs, while adjusted EPS climbed 20% to 2.68 francs. Julius Baer Group's operating income jumped 16% to 2.5 billion francs. At the end of 2014, assets under management rose 14% to 291 billion francs versus year end 2013. The bank also announced its plans to lower about 200 jobs. Julius Baer shares fell 1.59% to close at $8.05 on Friday.