Julius Baer CEO Bernhard Hodler Caps Year of Firefighting

He may not get the chance: The Latin American clean-up under ex-Goldman Sachs banker Beatriz Sanchez will dominate his agenda for the foreseeable future. The bank denies that its problems in Latin America will imperil a three-year agreement clinched with U.S. prosecutors in a 2016 tax evasion deal.

Raitzin's Future?

However, the sentencing of a former Julius Baer banker in October has roiled the C-suite. For good reason: the terms of the 2016 agreement are set to end in February, though this type of settlement can be extended if new evidence of criminal behavior is found. Julius Baer has not been accused of wrong-doing.

Nevertheless, the bank is clearly not in full control of its destiny in Latin America. Sanchez is currently shutting up shop in Panama and Venezuela in favor of Mexico, Brazil, and reportedly Argentina.

She and Hodler may eventually put their stamp on a new strategy in the region – something more decisive than the piecemeal retreat the bank is currently undertaking. A start may be to usher out Latin America Chairman Gustavo Raitzin (pictured at left), a close associate and carpool buddy of Collardi's who oversaw the region's heady – and perilous – growth.

Candidates Emerge

While Collardi’s fast and furious ways left little room for potential successors to emerge, Hodler has brought a quieter, calmer tone to Julius Baer. As Hodler toils with the clean-up, his deputies are quietly aligning for the next CEO handover.

To be sure, Hodler turns 59 next year – four years from Julius Baer’s retirement age for men. He may not be going anywhere soon, but a younger crop of executives including operating chief Nic Dreckmann, European head Yves Robert-Charrue, and new risk head Oliver Bartholet are said by Julius Baer bankers to harbor ambitions for the top job.

Advisory head Philipp Rickenbacher is set to take over Julius Baer’s business with independent asset managers in January. The move sets the 47-year-old Swiss banker up with a business division – and perhaps a springboard for his ambitions.