Julius Baer Chairman Romeo Lacher to Step Down

Julius Baer Group Ltd., a leading Swiss wealth management group, announced today that Romeo Lacher, the current Chairman of the Board of Directors, will not stand for re-election at the Annual General Meeting on April 10, 2025. His proposed successor will be nominated in March 2025.

Lacher informed the Board of Directors of his intention not to stand for re-election at the Annual General Meeting 2025 during 2024. Following the appointment of Stefan Bollinger as CEO, Julius Baer has the opportunity to advance its strategic development under new leadership also at the level of the Board of Directors. The Board of Directors has initiated a search process for external candidates for the Chair of the Board, which is expected to be completed shortly. The proposal for the Chair of the Board Elect is expected to be announced together with the invitation to the Annual General Meeting and the proposals for the elections to the Board of Directors in March 2025.

Richard M. Campbell-Breeden, Vice Chair of the Board of Julius Baer, said: “On behalf of the Board of Directors, I want to thank Romeo Lacher. Under his leadership, the Board of Directors acted decisively to address the impact of the credit losses that occurred in 2023 and to select and appoint a new CEO. Thanks to Romeo’s work and his commitment to ensure a speedy and seamless transition, we are ready for the next phase in the development of our strategy.”

Romeo Lacher, Chairman of Julius Baer, said: “With Stefan Bollinger starting as CEO, Julius Baer is opening a new chapter. It is a good moment for this transition at Board level. As the leading pure-play wealth manager worldwide, Julius Baer is strongly positioned for future success. I would like to thank all of Julius Baer’s employees for their support and dedication.”

The upcoming change in leadership at Julius Baer is expected to advance the company's strategic development under new leadership. This transition comes after the appointment of Stefan Bollinger as CEO, which marked the beginning of a new chapter for the company. The Board of Directors has initiated a search process for external candidates to fill the position of Chair of the Board, indicating a desire to bring fresh perspectives and expertise to the top management team. This change in leadership is seen as an opportunity to further strengthen Julius Baer's strategic development and position it for future success.

In conclusion, the departure of Romeo Lacher from Julius Baer's Board of Directors is a significant event that will pave the way for new leadership and strategic development. The company's strong position in the wealth management sector and the appointment of Stefan Bollinger as CEO have created an ideal opportunity for this transition. As Julius Baer continues to grow and innovate, the selection of an external candidate to succeed Romeo Lacher will be crucial in shaping the company's future direction.