Julius Baer and HSBC Hire New CEOs

Swedish private bank Julius Baer has announced the appointment of Stefan Bollinger as CEO, effective from no later than February 1, 2025.

He will be joining the bank from his role at Goldman Sachs in London, where he has been a partner and co-head of private wealth management for Europe, the Middle East and Africa.

Bollinger joined Goldman Sachs in 2004 and has served as a partner for 14 years. Prior to starting at the firm, he worked at JP Morgan in London.

Julius Baer’s appointment forms part of a broader trend of leadership changes among major banks. HSBC recently promoted Georges Elhedery from group chief financial officer to group chief executive.

Elhedery will start his new role on September 2, making him the bank’s third new CEO is less than eight years. He first joined the bank in 2005 and was later appointed to the board and as group financial officer in January 2023.

He previously held the role of co-CEO of global banking and markets, where he also led the markets and securities services division. Additionally, he served as CEO for the group’s Middle Eastern, North African and Turkish region from July 2016 to February 2019.

The Bank of Ireland also announced Gavin Kelly will head up its newly established wealth and insurance division, which will include the bank’s wholly owned subsidiaries, Davy (Wealth and Capital Markets) and New Ireland Assurance.

In his new role, which he will assume later this year, Kelly will be CEO of Davy, join the Davy board and oversee New Ireland Assurance. He will also remain on the group executive committee of the Bank of Ireland.

Kelly joined the bank in 2007 and has held various positions, including interim group chief executive, CEO of Retail Ireland, and CEO of corporate and commercial banking.