Romeo Lacher takes leave of Julius Bär and the SNB
Keystone-SDA
Romeo Lacher will not stand for re-election as Julius Bär chair and will also step down from his role at the Swiss central bank this year.
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His successor at Swiss private bank Julius Bär is expected to be announced in March.
“Under his supervision, the Board of Directors has acted decisively to address the credit losses incurred in 2023 and to appoint a new CEO,” said vice-chairman Richard Vampbell-Breeden.
Lacher said he took the opportunity of Stefan Bollinger’s appointment as CEO to announce his decision. Bollinger, a former partner at US bank Goldman Sachs, was appointed CEO of the Zurich-based bank last July. He took up his post on January 9, 2025.
The markets are waiting to see what changes, if any, the new man in charge intends to make to revive the Zurich bank after the losses incurred in the Signa affair.
Julius Bär’s board of directors has already launched a search for external candidates to succeed Lacher. The process is almost complete. The proposal for election as chairman of the board of directors is expected to be announced in March 2025, together with the invitation to the Annual General Meeting to be held on April 10.
Lacher has also decided to resign from the Bank Council of the Swiss National Bank (SNB), of which he is vice-chair. His departure is scheduled for April 25, 2025, the date of the SNB Annual General Meeting.
Translated from French by DeepL/mga
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