Julius Baer Appoints Goldman Sachs Partner Stefan Bollinger as New CEO
Julius Baer, a Swiss private bank, has announced the appointment of Stefan Bollinger as its new chief executive, ending a search for a successor to Philipp Rickenbacher who was ousted in February. Bollinger, currently a partner at Goldman Sachs, will join Julius Baer by February 1, 2025.
Romeo Lacher, chairman of Julius Baer, praised Bollinger’s track record in global banking and wealth management, highlighting his role in expanding Goldman Sachs’ presence in various regions. Bollinger, a 50-year-old Swiss citizen, brings a wealth of experience from his time at Zuercher Kantonalbank, J.P. Morgan, and Goldman Sachs.
The new CEO will be tasked with navigating Julius Baer through turbulent times, following a significant loss on loans to Signa Group earlier this year. The bank’s share price has dropped 8% in the last 12 months, prompting talks of a potential takeover with EFG International that ultimately fell through due to Swiss regulatory concerns.
With Bollinger at the helm, Julius Baer aims to steer towards calmer waters and regain stability in the wake of recent challenges. Investors and industry experts will be watching closely to see how the new leadership guides the Swiss institution forward.
