he Zurich, Switzerland- based Julius Baer Group
(JBG) will replace its CEO with the first non-Baer family member at the end of the year. Rudolf Baer
, 62, will step down at the end of 2000 and will be replaced by Walter Knabenhans
vice president of the group executive board and head of trading and brokerage. Knabenhans joined JBG in 1997 from Credit Suisse
In addition, Knabenhans' position will be split into two business units, one for brokerage and one for trading. The trading unit will be headed by Michael Baer
, head of the JBG foreign exchange trading operations. Stephane Michel
, chief executive of Julius Baer Paris, will run the new brokerage business line.
It was also announced that Raymond Baer
, vice president of the group executive board and head of private banking, will succeed Thomas Baer
as chairman of the board on a yet to be determined date.
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