Ex-HSBC CEO Noel Quinn Close To Be Named Julius Baer Chairman

Julius Baer Group Ltd. is set to name ex-HSBC Holdings Plc Chief Executive Officer Noel Quinn as its next chairman, according to people familiar with the matter, in a high-profile win for the Swiss private bank. 

Quinn would join Julius Baer’s board as the bank is drawing a line under deep losses it sustained through the unraveling of Rene Benko’s Signa real estate group in late 2023 and early 2024. The developments prompted the departure of then-CEO Philipp Rickenbacher about a year ago. 

A representative for Julius Baer declined to comment. Quinn did not immediately respond to calls and messages seeking comment. 

The former HSBC CEO unexpectedly announced his departure from the UK bank in April last year. During his tenure, Quinn led a series of strategic reviews that culminated in a plan to boost the bank’s investment in the Asian business, while cutting back in developed Western markets such as the US and France. 

Julius Baer said in January that current chairman Romeo Lacher will not stand for re-election at the annual general meeting in April. At the time, the bank said it’s looking for an external candidate to replace Lacher and it would likely announce a name in March.

The lender’s new permanent CEO, Stefan Bollinger, assumed his role in January. The bank has since announced it will cut around 400 jobs and it has also reduced the number of executive board members to five from 15.