Julius Baer names Goldman Sachs partner CEO

23rd Jul 2024 09:24

(Sharecast News) - Julius Bear Gruppe has named Goldman Sachs partner Stefan Bollinger chief executive, it was confirmed on Tuesday.

The Swiss private bank said Bollinger, who has been a Goldman Sachs partner for the last 14 years, would take up the role no later than 1 February 2025.

A Swiss citizen based in London, Bollinger has spent his whole career in finance.

He is currently co-head of private wealth management for Europe, Middle East and Africa at Goldman Sachs, which he joined 20 years ago. Prior to that he worked at JP Morgan and Zurcher Kantonalbank.

Romeo Lacher, Julius Baer chair, said: "[Bollinger] has an excellent track record in global banking and wealth management.

"His experience combines a comprehensive understanding of risk, products and of how to deliver value to global wealth management clients.

"Under Stefan's leadership, we will future proof Julius Baer as the leading pure-play private bank, and provide the best conditions for sustainable growth."

Bollinger joins Julius Baer after a difficult period for the bank, which traces its roots back to 1890.

It suffered significant losses on loans to failed property group Signa, prompting a £526m writedown and leading to the departure of chief executive Philipp Rickenbacher in February.

As at 1015 BST, shares in Julius Baer were trading 1% higher.