Julius Baer to Boost Bonuses at Least 10% for High Performers
- Discretionary pay rises for top bankers may gain up to 20%
- Some average and lower-performing client advisors to lose out
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Julius Baer Group Ltd. is planning to boost bonuses for high-performing client advisers by at least 10%, as Chief Executive Officer Philipp Rickenbacher makes good on a promise to pay for performance during the pandemic.
While top performers could see higher rises, some average and lower-performing relationship managers could see cuts of at least 10%, people familiar with the matter said, asking not to be identified discussing internal plans. The Zurich-based firm’s overall bonus pool will also increase after profit rose 50% last year, one of the people said.