A busy round of moves at the Swiss bank continues, with a sweeping reorganisation of its executive structure, affecting a number of regions.

Julius Baer, which named a new chief executive during the summer, is shaking up its leadership to create a “simplified” structure, cutting leadership numbers to nine from 15.

Executive boards of Julius Baer Group Ltd and the group’s main operating entity, Bank Julius Baer & Co, will be aligned with the same people on both boards.

Starting from 1 January 2020, the boards of Julius Baer Group Ltd and Bank Julius Baer & Co Ltd will both consist of the following individuals:

-- Philipp Rickenbacher, chief executive; 
-- Yves Robert-Charrue, head of Switzerland and Europe, Middle East, and Africa; 
-- Jimmy Lee Kong Eng, head of Asia-Pacific; 
-- Beatriz Sanchez, head of Americas; 
-- Nic Dreckmann, chief operating officer and head of intermediaries; 
-- Nicolas de Skowronski, investment and wealth management solutions, head of wealth management solutions; 
-- Yves Bonzon, investment and wealth management solutions, chief investment officer; 
-- Dieter A Enkelmann, chief financial officer; and  
-- Oliver Bartholet, chief risk officer. 

Regional compression
The Zurich-listed banking group said that the five regions serving private clients will be pulled into three geographic front units for Julius Baer’s international franchise. Intermediary clients will continue to be covered as a distinct business. Investment and wealth management solutions across discretionary and advisory services are to be blended into one unit, which the firm said will make this offering more scalable.

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,” it said.

The group general counsel and chief communications officer will continue to report to the CEO, as will the group head of HR.

Other changes
Rémy A Bersier, region head of emerging markets, will be appointed chairman of private banking key clients from 1 January, 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, head of the Swiss region, will leave the bank at the end of 2019 by mutual agreement, after ensuring a smooth handover of his area of responsibility.

“Both Rémy Bersier and Gian Rossi have been instrumental in Julius Baer’s success over the past decade, and I would like to thank both of them for their contributions since they joined the executive board of Bank Julius Baer in 2006,” Philipp Rickenbacher said. “Gian Rossi was equally influential in expanding our footprint in international markets as he was in cementing our strong position in Switzerland – we will build on his achievements and wish him all the best for his future.”

“Rémy Bersier has overseen and driven the outstanding growth of our business in many geographies, particularly in emerging markets and Monaco. I am very pleased that he has agreed to continue to work with us in a new role, in which he will share his passion and experience with our regional leadership and our senior client executives, with the aim of developing our ultra-high net worth clientele across the globe,” he added. 

The bank said it will publish its 10-month interim statement on 19 November, and publish full-year results on 3 February next year. It will update the markets further on its strategy next February, it added.

The bank has been busy with a range of hires and movements, such as building teams serving the Brazil and Portugal markets, for example. This publication also recently interviewed the bank about its UK and Ireland business.