J Safra Sarasin’s group net profit rose 9.5 percent to CHF 380.2 million for 2019 from CHF 347.3 million in 2018.

In the group’s 2019 annual report, it reported a decrease in operating income to CHF 1.15 billion from CHF 1.21 billion the previous year.

Assets under management grew by 13 percent to CHF 185.8 billion from CHF 164.6 billion, with net new assets of CHF 5.6 billion.

Operating expenses increased slightly to CHF 688.8 million from CHF 671.7 million in 2018. This was in part due to the group’s expansion of its global network in Amsterdam and Istanbul.

Jacob J Safra, vice chairman of J ...