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The executive board at Julius Baer saw their pay bounce back last year, according to the company’s compensation report published today.
The 16-person executive board received CHF 43.2m in pay in 2024, excluding extra payments for Thomas Frauenlob, which replaced pay he gave up when joining from UBS during the year.
By comparison, the 10 members of the executive board took home CHF 13m in 2023. Members including then-CEO Philipp Rickenbacher received no bonus in 2023, after private credit loss allowances led to net profit halving. Profits bounced back in 2024, helped by a decrease in income taxes.
