UBS and Credit Suisse Potentially Overshadowed by Julius Baer: Swiss private banking is well off 2021's record highs, and the upcoming quarterly results by the establishment blue chips will likely confirm future trends. UBS CS JuliusBaer
Swiss private banking is well off 2021's record highs, and the upcoming quarterly results by the establishment blue chips will likely confirm future trends.
Julius Baer will be the first of the mainline wealth managers to report results starting next Monday. They will be followed by UBS on Tuesday and Credit Suisse on Wednesday, with Vontobel rounding matters on Thursday. Credit Suisse is in just as uncomfortable a position. The bank has warned the markets and investors it would make another loss in the second quarter. In the first quarter, it displayed a worryingly weak business while continuing to work through a series of homemade fiascos.
He is coming off well with analysts, even a particularly pessimistic coterie at British-based bank Barclays. In a widely discussed report, they rated Julius Baer shares a hold while recommending both UBS and Credit Suisse be sold. UBS shares have fallen 5 percent since the start of the year, Julius Baer is down 27 percent and Credit Suisse has lost 40 percent.
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