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Julius Baer will appoint Philipp Rickenbacher as the new managing director, the Swiss private bank announced on Monday, replacing Bernhard Hodler, who was retiring.
Zurich-based Julius Baer said in a statement Monday morning in Europe that Mr Rickenbacher, the current head of intermediaries and global conservation, will succeed Mr Hodler on 1 September. Mr. Hodler, who is retiring, is president In 2017, he replaced Boris Collardi, who joined the Swiss rival Pictet in a prestigious defection that shook the sector.
At the time, Julius Baer had stated that Mr. Hodler's appointment was temporary until a long-term successor of Mr. Collardi could be found.
Mr. Rickenbacher, 48, previously headed Julius Baer's consulting business. He has been with the company since 2004, when he joined McKinsey.
The decision of the Swiss private bank to appoint Mr Rickenbacher is part of the "long-term succession planning," says the report.
"For this appointment, the board has carefully evaluated internal and external candidates," said Romeo Lacher, Chairman of the Board of Julius Baer, in the statement. "We are delighted that, with Philipp Rickenbacher, we have been able to appoint an internal candidate with convincing leadership and a solid professional background, who are fully conversant with Julius Baer's culture and activities, but ready to meet the challenges of challenges of tomorrow. "
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