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julius baer faces turmoil as new ceo confronts systemic banking issues

Julius Baer, once a stable alternative in Swiss banking, faces severe turmoil under new CEO Stefan Bollinger, who inherits a legacy of scandals and a 10% workforce cut that fails to address deeper systemic issues. The bank grapples with legal threats from Georgian billionaire Bidzina Ivanishvili and ongoing regulatory scrutiny, raising concerns about its governance and risk management culture. As Switzerland's banking reputation hangs in the balance, Bollinger must act swiftly to restore trust and profitability amid a backdrop of aggressive growth strategies gone awry.

julius baer surprises with appointment of stefan bollinger as new ceo

Julius Baer has appointed Stefan Bollinger, a 50-year-old Swiss wealth manager and Co-Head of Private Wealth Management EMEA at Goldman Sachs, as its new CEO, effective January 9, 2025. His selection comes amid challenges following a costly debacle with investor René Benko, but Bollinger's clean slate and personable nature may help rebuild client trust. This unexpected choice echoes the bank's past success with Boris Collardi, who navigated significant challenges during his tenure.

wealth rankings of banking families and managers in switzerland

The latest rich list reveals the Safra family maintaining a stable fourth place in Switzerland with assets of CHF 22.5 billion, while the Hinduja family's wealth rose to CHF 10.5 billion amid legal troubles. Martin Ebner's assets increased to CHF 3.8 billion, bolstered by his stake in Temenos, despite a share price decline. The UBP founding family is valued at CHF 2.3 billion, with notable bank managers like Sergio Ermotti and Colm Kelleher estimated around CHF 175 million.
10:18 29.11.2024

banking families and managers see varied fortunes in latest wealth rankings

The latest rich list reveals the Safra family maintaining their position with assets of 22.5 billion francs, while the Hinduja family saw a rise to 10.5 billion francs amid legal troubles. Martin Ebner's wealth increased to 3.8 billion francs despite losses from Temenos, and the de Piciotto family is valued at 2.3 billion francs. Bank managers like Sergio Ermotti and Boris Collardi are estimated at around 175 million francs, with Ermotti benefiting from a substantial salary and share value at UBS.

efg bank accelerates growth with major team acquisition from vp bank

VP Bank is experiencing a significant loss of experienced advisors, with 10 client advisors and 3 assistants moving to EFG, potentially transferring over $2 billion in client assets. EFG, led by CEO Giorgio Pradelli and Board member Boris Collardi, aims to establish itself as a leading private bank in Zurich amid ongoing consolidation in the sector. Collardi's strategic moves, including a stake in EFG and past successes, position the bank for substantial growth.
07:36 01.11.2024

EFG Bank enhances Asia advisory board with new key appointments

EFG Bank has appointed Dr. Urs Buchmann as vice chairman and Ashish Gumashta as a member of its Regional Asia Advisory Board, enhancing its strategic focus in the Asia Pacific and Global South Asia markets. Buchmann, with over 30 years of experience in Greater China, previously held a senior role at Credit Suisse, while Gumashta brings extensive expertise from the Indian market, having served as managing director at Motilal Oswal and CEO of Julius Baer, India. Their appointments are expected to significantly contribute to EFG's growth strategy in the region.
15:25 16.10.2024

EFG International expands Asia Advisory Board to enhance growth strategy

Boris Collardi, Chairman of EFG International's Regional Asia Advisory Board, has appointed Urs Buchmann and Ashish Gumashta to strengthen the board. Buchmann, a former Vice Chairman at Credit Suisse in Hong Kong, and Gumashta, with extensive experience in the Indian market, will help drive EFG's growth strategy in Asia. As competition intensifies, particularly from Hong Kong and Singapore, EFG aims to expand its presence in the booming Asian wealth market.
08:30 16.10.2024

efg bank enhances asia advisory board with new appointments

EFG Bank AG has appointed Dr. Urs Buchmann as vice chairman and Ashish Gumashta as a member of its Regional Asia Advisory Board. Buchmann brings over 30 years of experience in Greater China, while Gumashta has a strong focus on the Indian market. Their expertise is expected to enhance EFG's growth strategy in the region.
08:10 16.10.2024
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