Swiss private bank Julius Baer has announced organisational and leadership changes designed to bolster the group’s transformational efforts and strategy execution.

Julius Baer has appointed former HSBC executive Jean Nabaa (pictured) as chief operating officer (COO) and member of the executive board, effective 13 April 2026, subject to regulatory approval.

He will succeed Nic Dreckmann, who is stepping down from his roles and will leave Julius Baer after an "orderly transition." Cindy Leggett-Flynn will join Julius Baer as head of group communications in January 2026, the firm said in a statement.

Nabaa brings more than 20 years of international experience in financial services, in particular wealth management. At HSBC, he was most recently COO for international wealth and premier banking and COO for global private banking. Prior to that, he held COO positions at Standard Chartered Bank and Bank of America Merrill Lynch. He began his career at McKinsey & Company in Switzerland. A Swiss national, Nabaa holds an MBA from INSEAD and an master of science in economics from the University of Lausanne.

“With his expertise, he brings exceptional strengths to our organisation. He is joining at a pivotal time for Julius Baer and, in his COO capacity, will be instrumental in driving operational excellence, front-to-back process optimisation, and technology enhancements and innovation – all crucial prerequisites to further enhance client experience, achieve our business targets, and execute on our strategy,” Stefan Bollinger, CEO of Julius Baer said.

Dreckmann will step down as COO and deputy CEO of Julius Baer on 13 April 2026 by mutual agreement. He will leave the firm by summer 2026 after an orderly transition, to pursue opportunities outside the group.

“On behalf of the entire executive board and all our colleagues, I sincerely thank Nic Dreckmann for his outstanding leadership and contributions,” Bollinger added. “This marks the closing of a truly remarkable chapter spanning over two decades with Julius Baer. Throughout his career, Nic has profoundly shaped the trajectory of our organisation. I wish him every success in the future.”

A new group communications function will also be established, led by Cindy Leggett-Flynn, who will join Julius Baer in January 2026 and report directly to the CEO. Leggett-Flynn has an international career in strategic communications. Most recently, she served as global head of communications at Credit Suisse, where she led the function during the acquisition by UBS. Prior to that, she was chief communications officer at AIG, and spent over 16 years at Brunswick Group, as a partner and managing partner for Greater China. A US national, Cindy Leggett-Flynn holds a master of arts in land economy from the University of Cambridge, UK.

“With her extensive international experience in strategic communications, including leadership roles at global financial institutions and advisory firms, she brings profound expertise to this critical role,” Bollinger said.