Julius Baer Seeks Goldman Sachs Deal to Get New CEO Sooner [BNN Bloomberg (Canada)]
Goldman Sachs Group, Inc. (The) (GS)
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Bollinger, who is currently co-head of wealth management for Europe, the Middle East and Africa at Goldman, was appointed CEO of Julius Baer earlier this week, but has approximately six months notice to serve. He will join “no later” than Feb 1, the bank said on Tuesday. Julius Baer's board is now leaning on Goldman Sachs to shorten the notice period, the people said, who asked not to be named discussing private talks. The Zurich-based wealth manager has been without a permanent chief executive since Philipp Rickenbacher stepped down in February in the wake of losses linked to the Signa real estate bankruptcy. The fact that Bollinger's lead time, though usual in the industry, would leave the bank about a year without a CEO is causing frustration within the firm, one of the people said. Analysts pointed to a leadership gap at the firm after the bank unveiled a 15% drop in profit for the first half on Thursday. Julius Baer shares rose 0.7% after the report before erasing gains, t
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