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 April 9, 2026, resigning from her position at that time.
The wealth manager revealed plans to nominate Urban Angehrn and Colin Bell as new Board members at the 2026 Annual General Meeting.
Julius Baer Group Chairman of the Board of Directors Noel Quinn said: “I would like to express my deep gratitude to Olga for her 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 and Risk Committee since joining the Board, and was a strong contributor to the many constructive discussions that have taken place during this time. Having concluded a transition period for Julius Baer over the last two years, she leaves the organization in a stronger position and has decided that now is the right time to retire from the Board at our 2026 Annual General Meeting.”
Bell, who previously worked as group compliance director for HSBC and UBS, recently retired and has experience in compliance, risk management and leadership roles at leading 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 a wealth of experience and significant capabilities in building and operating sophisticated compliance programs, along with his business and technology transformation skills.”
Julius Baer pointed out that with these changes, the Board would not meet its gender diversity objectives for now.
The company said it is in the process of seeking qualified candidates for future consideration and aims to meet diversity requirements before the Annual General Meeting in 2027.
More details on the composition of the board will be shared in the AGM circular scheduled for March.
The Swiss wealth manager reported a 25% drop in net profit by 2025, to 764 million francs ($981.3 million).
This decline is due to extraordinary expenses and credit losses of 213 million francs, following write-downs related to the collapse of the Signa real estate group the previous year.
“Julius Baer Announces Board Review” was created and originally published by Private Banker International, a brand owned by GlobalData.
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