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Julius Bär chairman to step down

Julius Bär Gruppe AG is proposing Romeo Lacher as nonexecutive chairman of its board of directors.

Lacher, who currently serves as chairman of SIX Group AG, is set to succeed Daniel Sauter, who has decided not to seek re-election at the Swiss banking group's April 10 annual general meeting.

Sauter will continue as president of the Julius Bär Foundation Board.

Meanwhile, Eunice Zehnder-Lai and Olga Zoutendijk will be nominated for election as new members of Julius Bär's board, replacing Gareth Penny and Andreas Amschwand, who will not stand for re-election.

All nominees are also expected to become members of Bank Julius Bär & Co. AG's board.