Frankfurt, 5 July 2024 – Axel Hoffmans has most recently been Head of Private Banking at HSBC Germany and previously held various senior management positions at Credit Suisse (Germany). His appointment is still subject to approval by the supervisory authorities. Dr Stefan Spieler, also from HSBC, will join Bank Julius Bär Deutschland AG (Julius Baer Germany) alongside Hoffmans and, with his considerable specialist knowledge and expertise, will focus on the Bank’s strategic business development.

Dr Patrick Prinz, Market Head Germany & Austria at Julius Baer, comments: “Axel Hoffmans brings the necessary experience as well as the professional and personal leadership qualities to lead our highly successful and growing bank in Germany into the future. Together with Dr Stefan Spieler, he will provide fresh insights for the further development of the value proposition to our clients. We look forward to continuing Julius Baer’s success story in Germany together with them.”

Heiko Schlag, who has been a member of the Executive Board of Julius Baer Germany since 2011 and its CEO since 2012, decided some time ago not to extend his contract as CEO as of 2025. However, he will remain CEO until the end of 2024. “We respect, admire and at the same time regret the decision of our highly valued CEO Heiko Schlag. Over the past 13 years, Mr Schlag has developed Julius Baer Germany into one of the leading private banks in Germany. He has built up a strong team of relationship managers and established a series of new, profitable locations. He is an outstanding leader and a highly valued contact person for clients,” explains Dr Patrick Prinz. “We would like to thank Heiko Schlag sincerely for his relentless commitment.”

“It is both an honour and a pleasure for me to have been part of this extraordinary expansion and growth story together with a highly dedicated team,” says Heiko Schlag, CEO of Julius Baer Germany. With regard to the upcoming change, he comments: “It is of the utmost importance to me that I hand over Julius Baer Germany to my experienced successor in excellent shape and only after a carefully planned, structured succession process.”

Julius Baer Germany recently announced that it had achieved a record profit of over EUR 52.3 million (before taxes) in 2023. This equates to a doubling of profit compared to the previous year.

The otherwise unchanged composition of the Executive Board of Julius Baer Germany stands for continuity and remains unaffected by the change of CEO. Accordingly, Axel Hoffmans will be supported by Cornelia Thum as Chief Operating Officer (COO) and Thomas Falk as Chief Financial and Chief Risk Officer (CFO/CRO).

Julius Baer Germany, with offices in Frankfurt am Main (head office), Berlin, Düsseldorf, Hamburg, Hanover, Kiel, Mannheim, Munich, Stuttgart and Würzburg, is a wholly owned subsidiary of Julius Baer Group in Zurich.