March 23, 2020 / 6:23 AM / 12 days ago

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

FILE PHOTO: CEO Philipp Rickenbacher of Swiss bank Julius Baer addresses the annual news conference to present the results for 2019 in Zurich, Switzerland February 3, 2020. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Julius Baer (BAER.S) Chief Executive Philipp Rickenbacher had a compensation package of 4.41 million Swiss francs (3.84 million pounds) 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.

(This story corrects to add “million” in headline).

Reporting by John Revill; editing by Thomas Seythal

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