The change of chairman at Zurich-based Julius Baer reverberates at the Swiss stock exchange operator. SIX has decided to start looking for a replacement after all.
Julius Baer in January said it will propose its shareholders to elect Romeo Lacher as new chairman at the annual general meeting in April. Lacher, who currently presides over SIX, will replace Daniel Sauter.
The private bank also said it expected that Lacher didn’t need to give up the chairmanship at the stock exchange operator, the key financial market infrastructure provider in Switzerland.
Looking for a Replacement
However, SIX today announced that Lacher will step down as chairman after all, by the annual general meeting of 2020 at the latest. Until his departure, he will continue to lead the transformation of the group.
Lacher, who previously used to work for Credit Suisse, was appointed chairman at SIX in early 2017. The company soon will start looking for a replacement.
