Julius Baer has decided to cut down top management from 15 to 9 members, effective 1 January 2020. 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.
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.
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.
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.
This article was first published by Investment Europe, a sister title to International Investment.