Effective 1 January 2020, Julius Baer’s executive leadership team will follow a simplified organisational structure. Competences and market responsibilities will be bundled, enhancing client focus and enabling fast decision-making. As part of these changes, the Executive Boards of Julius Baer Group Ltd. and Bank Julius Baer & Co. Ltd., the Group’s main operating entity, will be aligned, with the same people serving on both boards. The executive leadership of Group and Bank will thereby be reduced from 15 to 9 members.
Zurich, 3 October 2019 – As of 1 January 2020, the Executive Boards of Julius Baer Group Ltd. and Bank Julius Baer & Co. Ltd. will both consist of the following individuals:
- Philipp Rickenbacher, Chief Executive Officer
- Yves Robert-Charrue, Head Switzerland & Europe, Middle East, and Africa
- Jimmy Lee Kong Eng, Head Asia Pacific
- Beatriz Sanchez, Head Americas
- Nic Dreckmann, Chief Operating Officer & Head of Intermediaries
- Nicolas de Skowronski, Investment & Wealth Management Solutions, Head of Wealth Management Solutions
- Yves Bonzon, Investment & Wealth Management Solutions, Chief Investment Officer
- Dieter A. Enkelmann, Chief Financial Officer
- Oliver Bartholet, Chief Risk Officer
The organisational structure will be simplified, allowing for a more agile set-up, centred on client needs and driven by faster decision-making.
The five regions currently serving private clients will be aggregated into three geographic front units to continue the profitable growth of Julius Baer’s international franchise along its stated market priorities.
Intermediary clients will continue to be covered as a distinct business, closely aligned with the Group’s COO organisation, to accelerate the technological transformation and provide this B2B segment with integrated state-of-the-art services.
For a seamless and truly holistic client experience, investment and wealth management solutions across discretionary and advisory services are to be blended into one unit, thereby further enhancing the scalability of the Group’s offering.
In addition, Julius Baer’s Markets division, run by Luigi Vignola, will be consolidated under the leadership of the CFO, along with treasury and credit management. The bundling of expertise in and access to capital markets will enhance the development of attractive financing solutions for Julius Baer’s clients, while ensuring a more inclusive management of its financial resources.
The Group General Counsel and Chief Communications Officer will continue to report directly to the CEO, as will the Group Head of HR.
Commenting on the changes, Philipp Rickenbacher, CEO of Julius Baer, said: “Julius Baer is in a great position. We have what it takes to remain a leader in wealth management in the years to come. Defining the new leadership team and working in a simpler, leaner set-up gives us the opportunity to tackle the strategic challenges quickly and decisively.”
Further changes effective 1 January 2020
Rémy A. Bersier, currently Region Head Emerging Markets, will be appointed Chairman Private Banking Key Clients reporting to the CEO, with responsibility to support and advise on the development of Julius Baer’s ultra-high net worth clientele. He will also remain Chairman of Bank Julius Baer Monaco.
After 13 years with Julius Baer, Gian A. Rossi, currently Head Region Switzerland, will leave the Bank at the end of 2019 by mutual agreement, after ensuring a smooth handover of his area of responsibility.
Philipp Rickenbacher said: “Both Rémy Bersier and Gian Rossi have been instrumental in Julius Baer’s success over the past decade, and I would like to thank both of them for their contributions since they joined the Executive Board of Bank Julius Baer in 2006.”
He added: “Gian Rossi was equally influential in expanding our footprint in international markets as he was in cementing our strong position in Switzerland – we will build on his achievements and wish him all the best for his future.”
On Rémy Bersier, he said: “Rémy Bersier has overseen and driven the outstanding growth of our business in many geographies, particularly in Emerging Markets and Monaco. I am very pleased that he has agreed to continue to work with us in a new role, in which he will share his passion and experience with our regional leadership and our Senior Client Executives, with the aim of developing our ultra-high net worth clientele across the globe.”
Julius Baer’s ten-month Interim Management Statement will be published as scheduled on 19 November 2019, and its 2019 full-year results will be released on 3 February 2020. In February 2020, the Group intends to also provide a comprehensive update on its strategy to investors, analysts, and media.