Julius Baer wants to double assets under management - Handelsblatt

ZURICH, July 10 (Reuters) - Swiss bank Julius Baer can double its assets under management to 1 trillion Swiss francs ($1.12 trillion), CEO Philipp Rickenbacher said in an interview with German daily Handelsblatt on Monday.

Achieving the goal would mean a massive increase from the 429 billion francs in assets that Julius Baer currently manages, but it is possible, the daily reported, adding that Rickenbacher declined to give a timeline on when the target could be achieved.

"We have deliberately never formulated that as a target with a fixed time frame," he said, responding to a question if the target could be achieved by 2030.

"But we are in growth mode and such ambitions are not unrealistic," he said, adding that attracting former Credit Suisse clients will take time.

"Perhaps the market has overestimated the speed of the shifts," Rickenbacher said. "High-net-worth individuals take their time making these decisions.

"In the long term, however, there will be some redistribution of market share."

The executive said he expects adjustments to banking regulation in the wake of the Credit Suisse collapse, while measures were required to prevent the rapid withdrawal of cash by customers in an emergency.

"The case of Silicon Valley Bank in particular has shown that a so-called bank run can take place much more quickly and aggressively today than it did 10 or 20 years ago, partly because of digitisation," he said.

"This is a problem that regulators should address."

($1 = 0.8912 Swiss francs) (Reporting by John Revill; Editing by Sherry Jacob-Phillips)