Swiss private bank Julius Baer has appointed Philipp Rickenbacher as its new chief executive.
The 48-year-old Swiss is the current head of intermediaries and global custody at the Switzerland’s third-largest listed bank. He will replace Bernard Hodler, the current chief executive, on 1 September.
Rickenbacker joined Julius Baer in 2004 where he also had a stint as head of advisory solutions.
The bank’s chairman Romeo Lacher said the firm had carefully evaluated internal and external candidates before making the appointment.
Former Credit Suisse wealth management boss Iqbal Khan had been said to be a contender for the post. Khan suddenly left the bank last week “to pursue other opportunities.”
“We are delighted that, with Philipp Rickenbacher, we have been able to appoint an internal candidate with a compelling leadership and industry track record, deeply familiar with Julius Baer’s culture and business, but prepared to actively address the challenges of the future,” said Lacher in a statement.
Hodler is to retire after taking the role in late 2017.