Julius Baer’s Rickenbacher to Exit, Dreckmann to Be Interim CEO
- $700 million Benko exposure raised doubts over risk management
- Deputy CEO Nic Dreckmann to take over role ad interim
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Julius Baer Group Ltd. Chief Executive Officer Philipp Rickenbacher is to step down as a consequence of the bank’s exposure to the collapse of the Signa property empire, people familiar with the matter said.
Baer’s Deputy CEO Nic Dreckmann will take over the role until a permanent appointment can be made, one person said. The people asked not to be named as the matter isn’t public. The bank is due to release 2023 earnings on Thursday morning.