Julius Baer close to appointing ex-HSBC CEO Quinn as its chair, Bloomberg News reports

Swiss bank Julius Baer is close to appointing ex-HSBC CEO Noel Quinn as its next chairman, Bloomberg News reported on Friday citing people familiar with the matter.

In January, Romeo Lacher stepped down as Baer's chairman as the bank continued a management shake-up that began a year ago after it suffered major losses from exposure to collapsed property group Signa.

Baer's new CEO Stefan Bollinger said earlier this month the bank plans to cut its workforce by about 5%, having reported a 2024 pretax profit that fell short of expectations


Quinn left HSBC in April last year after leading the bank for five years. He oversaw a raft of asset sales, navigated a global pandemic and the push by rebel investors to break up the bank, guiding the lender to record profit.

Julius Baer did not immediately respond to a Reuters request for comment. A representative for Julius Baer declined to comment to Bloomberg News, the agency said.