Julius Baer: New CEO Sidelines Consultants

Written by Dominik Buholzer | Editor-in-Chief, finews.ch

Stefan Bollinger is aiming to steer Julius Baer back onto a growth path by boosting transparency, strengthening accountability, and cutting material costs, with the impact set to be felt most by employees and external consultants.

Stefan Bollinger does not hesitate for long. When the new CEO of Julius Baer needs information, he picks up the phone himself. «You have to expect him to call you on a Sunday afternoon if he really wants to know something about you,» says someone who prefers to remain anonymous.

No More Cowering

This fits in with the new strategy that Bollinger presented in London on June 3, 2025. Julius Baer is aiming for annual net new money growth of 4 to 5 percent by 2028, a cost/income ratio of less than 67 percent, and an adjusted RoCET1 return of over 30 percent.

In doing so, Bollinger is relying on a flatter management structure and clearer responsibilities – no more cowering.

Consultants Are Feeling the Effects

Additional cost savings of 130 million francs are intended to further increase efficiency. The leverage is to be applied to material costs in particular.

External consultants are currently feeling the pain of this. They are finding it difficult to even approach the new CEO. «You can't even get through to him» is the saying in the financial sector.

Jobs Become Scarce

Jobs have also become scarce. Headhunters, among others, are feeling the effects. Since Bollinger took office, only one vacant position has been filled via an external office, and that too via a firm based in London.

According to reports, Bollinger was initially astonished at the number of consultants coming in and out of Julius Baer. He repeatedly complained about this. The new CEO now attaches great importance to solving as much as possible internally.

Great Pressure

This has earned him recognition even among consultants. «The pressure on Julius Baer is great. It is to be hoped that Stefan Bollinger will be successful with his strategy,» says someone very familiar with the matter.