Julius Baer appoints Peter Burrill as CFO
Leadership Changes and Financial Oversight at Julius Baer
Appointment of Peter Burrill as CFO
ZURICH, July 3 (Reuters) - Swiss bank Julius Baer announced on Friday the appointment of Peter Burrill as chief financial officer and a member of its executive board, effective August 17 and subject to final regulatory approval.
Background on CFO Transition
The bank said in April that it was replacing CFO Evie Kostakis, rounding off a shake-up in its top management after it racked up heavy losses linked to risky lending.
Peter Burrill's Professional Experience
Burrill is joining Julius Baer from Standard Chartered, where he last worked as interim Group CFO after holding roles at Deutsche Bank and KPMG, Julius Baer said.
Expertise and Endorsement
"He brings profound depth and breadth of financial expertise, having led the full range of finance and regulatory functions," Julius Baer CEO Stefan Bollinger said about Burrill.
Regulatory Challenges Facing Julius Baer
The bank is still under an enforcement assessment by Swiss financial market regulator FINMA over losses to collapsed Austrian property group Signa, which prohibits Julius Baer from announcing new share buybacks.
Ongoing FINMA Assessment
A conclusion of the enforcement has been long expected but its timing depends on FINMA.
Reporting Credits
(Reporting by Ariane Luthi, Editing by Miranda Murray and Muralikumar Anantharaman)
