Julius Baer Group has announced an alignment of its organization, leading to a strengthened client orientation and increased efficiency. The new set-up will consist of the five Regions Switzerland, Europe (new), Emerging Markets (new), Latin America and Asia Pacific and will lead to changes within the Executive Board of Bank Julius Baer.
Furthermore, Philipp Rickenbacher has been appointed as new Head Advisory Solutions, and Nic Dreckmann as new Chief Operating Officer of the Bank and member of the Executive Board of the Bank as of 1 August 2016. All new positions are staffed from within the organization. Both the alignment of various markets within the new regional structure as well as the adjustments within the products and corporate functions area will not only benefit the clients but also lead to efficiency gains.
Boris F.J. Collardi, Chief Executive Officer, said: “The alignment of the front organization will enable a period of very strong growth of our Group. The changes, which are beneficial for our clients and ease the set-up of our regional structure, are a further step to confirming our position as the leading Swiss private banking group.”
Alignment of front organization
The regional set-up of Julius Baer will be aligned and reduced by one Region as of 1 September 2016.
Region Switzerland will be led by Gian A. Rossi. The Intermediaries business will be allocated to the new regional set-up and largely integrated into the Region Switzerland which includes the Global Custody business as well. Gian Rossi currently is Head Northern, Central and Eastern Europe. Barend Fruithof, Head Switzerland & Global Custody and Member of the Executive Board of the Bank, has decided to leave the Bank.
The new Region Europe (excluding Central/Eastern Europe, including Israel) will be run by Yves Robert-Charrue. He will further develop the European strategy mainly out of the new European hub Luxembourg following the recent acquisition of Commerzbank International S.A. Luxembourg. At present Yves Robert-Charrue is responsible for the Intermediaries business.
The newly established Region Emerging Markets will be led by Rémy A. Bersier. The Region’s strategy will be to further capture the vast growth opportunities in the attractive markets of Central/Eastern Europe/CIS, the Middle East, India and Africa. Rémy Bersier, who currently is Head Southern Europe, Middle East and Africa, will be based in Dubai.
Furthermore, following the launch of ‘Julius Baer – Your Wealth’, the Group’s new holistic approach to advise its clients, the division Investment Solutions Group will change its strategic roadmap to fully focus on delivering the client experience. Hence, it will be renamed Advisory Solutions and will come under the new leadership of Philipp Rickenbacher as of 1 August 2016. He is currently Head Structured Products and will be member of the Executive Board of the Bank as of the same date.
Changes on Group level
The new COO, Nic Dreckmann, will also be a member of the Executive Board of the Group as of 1 January 2017, replacing Greg Gatesman who will step down from the Executive Board of the Group by the end of the year. Additionally, Giovanni M.S. Flury, Member of the Executive Board of the Group, will retire.