World News

Julius Baer CEO gets $4.5 million compensation package – annual report

ZURICH (Reuters) – Julius Baer <BAER.S> Chief Executive Philipp Rickenbacher had a compensation package of 4.41 million Swiss francs ($4.49 million)for 2019, the Swiss private bank said on Monday.

Rickenbacher’s pay was lower than his predecessor Bernhard Hodler’s 6.16 million franc package for 2018, according to its annual report.

Hodler, who retired from the company and was replaced by Rickenbacher on September 1, picked up 3.65 million francs for 2019.

(Reporting by John Revill; editing by Thomas Seythal)