Stepping in for his former boss Boris Collardi paid off for Bernhard Hodler. While the compensation package for Collardi was cut, he received a handsome pay increase.
Bernhard Hodler, who moved up to replace Boris Collardi after the sudden departure of the charismatic CEO of Julius Baer in November 2017, has been amply rewarded for his efforts. He received a total compensation of 4.8 million Swiss francs for 2017, the bank reported on Monday.
Meanwhile, his former boss Collardi had his paycheck cut to 1.7 million from 6.5 million, as finews.asia reported separately.
For the compensation of Hodler the private bank took into account his dual roles of deputy CEO and CEO. 2017 proved to be a transition year for the new boss. The majority of Hodler’s pay is variable, in total about 3.7 million francs. About 85 percent of the bonus are deferred for five years and linked to certain performance criteria.
Long-Term Interest
Hodler also was attributed more Julius Baer shares – increasing from 30,000 in 2016 to 50,878 in 2017. The CEO is required to build up a stake of 100,000 shares and to keep them through the end of 2020.
The chairman of Julius Baer, Daniel Sauter, earned a total of 1.102 million francs last year, up slightly from 1.074 million a year earlier.
