Julius Baer has established a major shake-up of its organisational structure, streamlining its operations and reinforcing its strategic emphasis on client-centricity and sustainable growth.
The revamp follows the establishment of the bank’s Executive Board and Global Wealth Management Committee (GWMC), introduced earlier this year in February.
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At the heart of the reforms is the emergence of a new Global Products & Solutions arm, which combines the bank’s previous Markets and Wealth Management Solutions groups.
The division will be overseen by Luigi Vignola and Rajesh Manwani, both seasoned executives with extensive experience in wealth management and client services.
This integrated structure, which has already been tested in Julius Baer’s Asian markets, offers to provide a more smooth and comprehensive client experience. Manwani, who has led the Markets & Wealth Management Solutions team in Asia since 2017, has been key in expanding this concept in the area, building on the groundwork set by Vignola during his own time in Asia.
According to the bank, the combined leadership will help to drive continuing development and improve service performance globally. Manwani will join the GWMC alongside Vignola, who managed the global Markets unit for the last six years.
Meanwhile, chief investment officer Yves Bonzon, who has held the role since 2016, will lead the CIO Office as an independent function, separate from the new Global Products & Solutions unit.
Bonzon will continue to report to CEO Stefan Bollinger and keep his position on the GWMC. The move is intended to maintain the independence of Julius Baer’s investment management capabilities while also contributing to an integrated client offering.
Additionally, in a major regional change, Julius Baer has reorganised its client business into three global regions: Asia, under the leadership of Jimmy Lee; Emerging Markets, under the leadership of Rahul Malhotra; and the recently established Western Markets & Switzerland, which will be co-led by Carlos Recoder and Thomas Frauenlob.
The Western Markets & Switzerland region will oversee the bank’s activities in its home market of Switzerland, as well as Western Europe, the Americas, and its Intermediaries and Family Office business.
On the digital front, Nicolas de Skowronski, former co-head of IWMS, has been named head of digital business transformation. He will report to COO Nic Dreckmann and oversee Julius Baer’s digital activities throughout its wealth management offerings, with an emphasis on optimising client and relationship manager user journeys. He will continue to serve as deputy COO and on the GWMC.
CEO Stefan Bollinger stated: “Following the establishment of the new Executive Board and Global Wealth Management Committee, these changes are a further step towards a simpler and more client-centric organisation that positions Julius Baer for growth. The new structure, centred around enduring client focus, will drive accountability and disciplined entrepreneurship while reinforcing our risk culture.”
