Julius Baer Group has announced that Olga Zoutendijk will not stand for re-election to its board of directors at the company’s annual general meeting (AGM) on 9 April 2026, stepping down from her position at that time.
The wealth manager revealed plans to nominate Urban Angehrn and Colin Bell as new members of the Board at the 2026 AGM.
Julius Baer Group board chairman Noel Quinn said: “I would like to express my deep gratitude to Olga for her many important and valuable contributions to Julius Baer over the last seven years.
“Olga has been a valued member of the Audit Committee and the Governance & Risk Committee since she joined the Board, and she was a strong contributor to the many constructive debates that have taken place over this time. After concluding a period of transition for Julius Baer over the last two years, she leaves the organisation in a stronger position and has decided that now is the right time to retire from the Board at our 2026 AGM.”
Bell, who previously worked as group chief compliance officer for HSBC and UBS, retired recently and has experience in compliance, risk management, and leadership roles at major financial institutions.
He has also interacted with several regulatory authorities, including the Financial Conduct Authority and the European Central Bank.
Quinn added: “I am pleased to welcome Colin Bell to the Board. He brings tremendous experience and contributes important capabilities of building and operating sophisticated compliance programmes, along with his business and technology transformation skills.”
Julius Baer noted that with these changes, the Board would not fulfil its gender diversity targets for now.
The company said it is in the process of seeking qualified female candidates for future consideration and aims to meet diversity requirements before the AGM in 2027.
More details about the board’s composition will be shared in the AGM circular expected in March.
The Swiss wealth manager reported a 25% fall in net profit for 2025, down to SFr764m ($981.3m).
This decline was attributed to one-off charges and credit losses of SFr213m, following writedowns linked to the collapse of Signa property group in the previous year.
“Julius Baer announces board overhaul ” was originally created and published by Private Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
