Bloomberg -- Julius Baer Group Ltd. said increased client trading boosted margins as Switzerlands third- biggest wealth manager integrated Merrill Lynch businesses acquired from Bank of America Corp. last year.
The gross margin, which reflects how much the bank makes in revenue on managed client assets, rose to 102 basis points in the first half of the year, from 98 basis points in the year- earlier period, the Zurich-based bank said in a statement today. A basis point is one-hundredth of a percentage point. Julius Baer climbed the most in 21 months in Zurich trading.
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