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Julius Baer CEO Rickenbacher set to step down - source

Published 01/31/2024, 10:55 AM
Updated 01/31/2024, 11:00 AM
© Reuters. CEO Philipp Rickenbacher of Swiss bank Julius Baer addresses the annual news conference to present the results for 2019 in Zurich, Switzerland February 3, 2020. REUTERS/Arnd Wiegmann/ File Photo

By Oliver Hirt and Noele Illien

ZURICH (Reuters) - Julius Baer chief executive Philipp Rickenbacher is set to step down, a source with knowledge of the matter said on Wednesday, as the Swiss wealth manager deals with the fallout from its exposure to collapsed property group Signa.

Board-level discussions on Rickenbacher's future are ongoing, the source added, speaking on the condition of anonymity.

© Reuters. CEO Philipp Rickenbacher of Swiss bank Julius Baer addresses the annual news conference to present the results for 2019 in Zurich, Switzerland February 3, 2020. REUTERS/Arnd Wiegmann/ File Photo

Rickenbacher did not immediately respond to requests for comment. A spokesperson for Julius Baer declined to comment.

Reuters could not immediately establish how Rickenbacher may be replaced.

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