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December 23, 2021updated 05 Jan 2022 12:29pm

Julius Baer’s long-standing CFO to step down

Julius Baer has announced that its long-standing CFO Dieter Enkelmann will step down from his role and from the group’s and the bank’s executive boards on 1 July 2022.

Enkelmann was CFO of the Swiss wealth management group for more than 15 years. Following the transition, he will use his experience in non-executive responsibilities outside Julius Baer.

Julius Baer CEO Philipp Rickenbacher said that Enkelmann was instrumental in navigating the company through the financial crisis and its separation from the asset management business in 2009.

According to Rickenbacher, Enkelmann’s success also includes some of the major acquisitions made by Julius Baer during his tenure.

These include the acquisitions of the international wealth management business of Merrill Lynch, the Swiss private bank of ING as well as the independent Brazilian firms GPS and Reliance.

He commented: “Dieter was a decisive force in the growth of Julius Baer’s franchise and instrumental in driving its operational efficiency. He has been in charge of managing our balance sheet, our trading and credit activities, and launching new business lines in structured finance and real estate advisory.

“I would like to thank him for his loyalty, commitment and all his contributions. He has been a trusted leader, showing unmatched stewardship of our stakeholders’ interests and consistently strengthening the Group’s solid financial position. We wish him all the best in his future endeavors.”

Julius Baer has named current deputy CFO Evie Kostakis as new CFO.

Kostakist will become part of the group’s and the bank’s executive boards.

She joined Julius Baer in 2013 as deputy head of the group’s Corporate Development and Strategy. Kostakist served as deputy head of Investment Management and head of Alternative Investments between 2017 and 2019.

Prior to that, she worked for over 13 years in various expert and leadership functions in the financial services industry in New York and Connecticut, USA, and in Athens, Greece.

Commenting on the new appointment, Rickenbacher stated that Kostakis ‘is perfectly suited to forge the future of our finance strategy’.

He said: “With the appointment of Evie Kostakis, we have found the ideal successor. Evie is an outstanding professional with in-depth financial expertise who brings an international business perspective through the executive positions she has held in wealth and asset management and in commercial banking.”

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