Zurich-based private bank Julius Baer is refocusing on efficiency as it manages record-high client assets in 2024. To address ongoing cost pressures, new CEO Stefan Bollinger has streamlined the executive board, marking his first decisive move.
As of today, Julius Baer’s executive board has been streamlined to just five members. The Zurich-based private bank announced the restructuring on Monday as part of its 2024 annual results presentation.
The new executive board composition is as follows:
- Stefan Bollinger, chief executive officer
- Nic Dreckmann, chief operating officer and deputy CEO
- Oliver Bartholet, chief risk officer
- Evie Kostakis, chief financial officer
- Christoph Hiestand, group general counsel
Bollinger will take direct responsibility for all revenue-generating activities and front-office operations. The regional heads, as well as the heads of markets and investment & wealth management solutions, will report directly to him.
The chief operating officer’s responsibilities will be expanded to include client strategy & experience and HR & corporate affairs. The goal is to enhance client satisfaction, improve operational efficiency and further strengthen the bank’s technology and infrastructure.
«A new leadership structure and a leaner executive board will increase accountability, foster disciplined entrepreneurship from the top down, and reinforce our strong client focus. This is the first step toward a leaner and more streamlined way of managing our business. We will apply these same principles across the entire organization,» Bollinger said.
In 2023, the executive board expanded from 10 to 15 members but the trend has now reversed.
