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Zurich/Monaco, 18 July 2016 –Julius Baer today announces the strengthening of its management structure of its successful Monaco business. Alain Ucari will be promoted to Chairman of Bank Julius Baer (Monaco) S.A.M. (BJBM). Albert Henriques takes over from Alain Ucari as CEO of Julius Baer in Monaco, subject to regulatory approvals. He joins from HSBC, where he was Head Private Banking in Monaco since 2008. He will report to Rémy A. Bersier, Region Head Southern Europe, Middle East and Africa and member of the Executive Board of Bank Julius Baer & Co. Ltd. and to Alain Ucari, Chairman of BJBM, for regulatory and supervisory matters.   

Rémy A. Bersier will remain Board Member of BJBM and Chairman of Julius Baer Wealth Management (Monaco) S.A.M with Bruno Dumitrescu as Vice-Chairman. 

“We have been able to significantly grow our business in Monaco over the last years. I would like to express my gratitude to Alain for exceeding our expectations and to Bruno for his outstanding contribution and commitment to our growing franchise in the Principality. At the same time, I am very pleased to further reinforce the management team by welcoming Albert, who brings along an impressive track record and a vast experience and network. Albert and Alain, together with Bruno, will join forces to ensure a sound continuity and growth in this key market,” said Rémy A. Bersier.