Swiss bank Julius Baer names Goldman Sachs exec Stefan Bollinger as new CEO

Quick Summary:

Earlier this year the bank was reported to have held talks with fellow private bank EFG International about a potential takeover, that would have seen EFG's CEO Giorgio Pradelli as a potential head of a combined entity.

The new CEO will be charged with steering Julius Baer to calmer waters after the Swiss institution dating back to 1890 was caught up in a string of damaging episodes.

The appointment ends a search for a successor to Philipp Rickenbacher who was ousted in February after Julius Baer suffered a massive loss on loans to failed property firm Signa.

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Category: BusinessFinance

Markets: IndiaAustria

Topics: Swiss Banks Stefan Bollinger Goldman Sachs Julious Baer new CEO

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 12:07:58 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © Business Standard

News ID: 21746656

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