Adds detail, background

ZURICH, Sept 12 (Reuters) – Julius Baer’s BAER.S chief executive said on Tuesday there was nothing standing in the way of the Swiss bank becoming a $1 trillion wealth manager sometime in the next decade.

Speaking at an LSEG and Reuters event in Zurich, Philipp Rickenbacher said it was within reach for the bank to double its assets under management to 1 trillion Swiss francs ($1.12 trillion) in the 2030s, though he declined to give an exact timeline or commit to that figure as a specific goal.

Rickenbacher also said he expected Switzerland to defend its position as the leader for cross-boarder wealth management despite having to deal with the fallout from Credit Suisse’s collapse and its rescue by UBS UBSG.S.

“It is a good time to be a wealth manager today,” Rickenbacher said.

He said that while Credit Suisse’s collapse came as a shock to the financial community the way Switzerland managed to resolve the problem without any disruption to the market has show its strength as a financial marketplace.

(Reporting by Noele Illien Editing by Tomasz Janowski)

((Noele.Illien@thomsonreuters.com; +41 41 528 39 73;))

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