Rémy A. Bersier, currently Region Head Emerging Markets, will be appointed Chairman Private Banking Key Clients reporting to the CEO, with responsibility to support and advise on the development of Julius Baer’s ultra-high net worth clientele. He will also remain Chairman of Bank Julius Baer Monaco.

The announcement was made as Julius Baer said it will cut top management membership from 15 to 9 members, effective from January 1, 2020. “Julius Baer’s executive leadership team will follow a simplified organisational structure. Competences and market responsibilities will be bundled, enhancing client focus and enabling fast decision-making.

As part of these changes, the Executive Boards of Julius Baer Group Ltd. and Bank Julius Baer & Co. Ltd., the Group’s main operating entity, will be aligned, with the same people serving on both boards,” the bank said.

Commenting on the changes, Philipp Rickenbacher, CEO of Julius Baer, said: “Julius Baer is in a great position. We have what it takes to remain a leader in wealth management in the years to come. Defining the new leadership team and working in a simpler, leaner set-up gives us the opportunity to tackle the strategic challenges quickly and decisively.”

On Rémy Bersier, he said: “Rémy Bersier has overseen and driven the outstanding growth of our business in many geographies, particularly in Emerging Markets and Monaco. I am very pleased that he has agreed to continue to work with us in a new role, in which he will share his passion and experience with our regional leadership and our Senior Client Executives, with the aim of developing our ultra-high net worth clientele across the globe.”

The organisational structure will also be simplified, allowing for a more agile set-up, centred on client needs and driven by faster decision-making, the bank said.