The boss of Julius Bär wants a register of errant bankers
Keystone-SDA
Stefan Bollinger, CEO of Zurich-based private bank Julius Bär, has called for a Swiss register of bad bankers.
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“The advantages of registering financial market players are obvious,” Bollinger told the NZZ am Sonntag.
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“This prevents black sheep from simply moving on and carrying on as if nothing had happened.” He notes that other major financial centres, such as the United States, Briatin, Hong Kong and Singapore, already have such registers.
Switzerland already has a system for verifying guarantees at management level, which could be extended, says Bollinger. In his view, such an instrument would be beneficial to the financial centre as a whole in the long term.
In the same interview, Bollinger contradicted statements made by UBS chair Colm Kelleher, who spoke of an identity crisis in Switzerland. The Julius Bär boss does not see any such crisis and is convinced it is an advantage for UBS to remain a Swiss bank.
Bollinger is ambitious for the future. Between now and 2028, the Julius Bär is aiming for annual new money growth of 4-5%, a cost/income ratio of less than 67% and a return on equity of more than 30%, he says.
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Adapted from French by AI/mga
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