Julius Baer boss Philipp Rickenbacher has to vacate his position immediately, according to a media report. This is because of the large loans to the insolvent Signa Group.
The entire Benko positions of 606 million francs are to be written off. Julius Baer had already announced in November that consolidated profit in 2023 would be below the previous year's level. The Zurich bank is also considering other options to hold executives accountable - these include bonus cuts..