Zurich headquartered global wealth manager Julius Baer is to introduce a partial hiring freeze amid the market volatility of the first half of this year.
The freeze will focus on non-relationship manager positions, according to a report by Reuters.
Chief executive Philipp Rickenbacher said there were no immediate plans for lay-offs at the bank which has seen its headcount rise by 71 people this year, to 6,798 staff by the end of June.
"We have taken a very cautious stance throughout this year and will continue to do so even more in the second half," Rickenbacher told reporters.
