Private bank Julius Baer shrunk its CEO's compensation by around half a million francs in 2022, as it slightly reduced compensation for all ten members of the executive board.
Julius Baer's executive compensation was 35.48 million Swiss francs ($38.48 million), down from 35.47 million francs in 2021, while CEO Philipp Rickenbacher’s total compensation amounted to 6.03 million francs, compared with 6.53 million francs the year before, the private bank said in its annual report released Monday.
While Rickenbacher’s base salary remained unchanged at 1.5 million Swiss francs, his bonus decreased to 810,000 francs from 900,000 francs and deferred compensation shrunk to 972,000 francs from 1.08 million francs in 2021.
Board of Directors
The members of the board of directors received a total of 3.8 million Swiss francs, compared with 3.92 million Swiss francs in the previous year. Board chairman Romeo Lacher earned the most with 1.09 million francs compared to 1.12 million francs the year before.
The bank is putting Juerg Hunziker forward as a new member of the board of directors at its annual general meeting on April 13. At the same time, Heinrich Baumann is reaching his maximum term limit as a board member and Ivo Furrer is no longer seeking re-election.
Full-time employees increased by 2.4 percent to 6,891 in 2022 globally.
