Swiss private bank Julius Baer’s chairman of the board of directors, Romeo Lacher, has decided not to seek re-election at the 2025 annual general meeting.
Lacher’s replacement is expected to be nominated in March.
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The board has already started a search for external candidates for the chair position, which is expected to conclude soon, stated the company.
Lacher said: “With Stefan Bollinger starting as CEO, Julius Baer is opening a new chapter. It is a good moment for this transition at Board level. As the leading pure-play wealth manager worldwide, Julius Baer is strongly positioned for future success.”
Bollinger, a Goldman Sachs partner, took on the role of CEO at Julius Baer this month. He earlier also had stints at JPMorgan and Zürcher Kantonalbank.
Julius Baer board vice chair Richard Campbell-Breeden said: “On behalf of the board of directors I want to thank Romeo Lacher.
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By GlobalData“Under his leadership the board of directors acted decisively to address the impact of the credit losses that occurred in 2023 and to select and appoint a new CEO.”
Julius Baer made several leadership changes last year.
These include the appointments of Andreas Weisshaupt as its new head of the Lucerne branch and Reto Buerer as team head Asia Switzerland.
Earlier this month, the bank was in the headlines for the sale of its Brazilian domestic wealth management unit to BTG Pactual for BRL615m ($100.7m). The unit serves high and ultra-high-net-worth clients in São Paulo, Belo Horizonte, and Rio de Janeiro.
