Will the Bears get the Hammers? – Inside Paradeplatz Square

Ralph Hammers has the Sword of Damocles above his head. The Dutch judiciary is investigating a senior banker Money laundering scandal At his former bank ING.

This does not prevent Julius Baer's board of directors from including Hammers as the next CEO among its closest circle of candidates, said an insider.

Hammers has completely failed at UBS. Once the big bank was in its pocket, the board seized the opportunity to send the CEO into the desert.

This was justified as a decision against Sergio Ermotti and not against Ralph Hammers. The best prevailed.

This is of course nonsense.

Until then, the UBS board had always sided with Hammer. Why can't the CEO of this bank integrate computer science?

Then he would be the wrong person already. Maybe there was. Then the replacement makes sense.

The bank seized the opportunity to elegantly get rid of the inadequate company director.

And now Julius Baer. Romeo Lasher, a former CS antechamber general, rules there. Lasher had a penchant for processes and structures.

But not for humans. This was Julius Baer's downfall. Laughter ate from the hand of CEO Philip Rickenbacker.

Until the case of real estate tower builder Rene Benko showed that Rickenbacker allowed the residents of Innsbruck to have it wrapped around his finger.

Rickenbacker is history. But on Thursday, when Lasher and his VR colleagues have to appear before the owners of Bar Bank, it resonates.

How was such a failure at the head of the bank possible? Why is Rickenbacher allowed to keep his many millions in bonuses? Who underestimated the risks in the first place?

Lasher wants to keep matters in his own hands by running forward. He quickly promised a new CEO; One from abroad.

He hopes to get a blank check at the general meeting. According to the Taj Anzeiger newspaper And the Tippinpoint Financial Portal Shareholders must approve a $14 million-plus framework for the next COO.

Instead of the previous 7 million maximum CEO compensation.

The double amount includes bonuses from previous employers. In other words: Lasher clearly has a tied candidate who will have to give up a lot of money in his old position.

Bar Bank will compensate him for this.

Hammers is one of the unemployed senior bankers who still has millions in their balance. It expires if it moves to a direct competitor.

Hammers in the bear? We'll see. What is certain is:

At UBS, during his short tenure from the end of 2020 to the spring of 2023, he was noticed more for his LinkedIn videos and woke efforts than for his straightforward work style.

The low point in Hammer's stint as head of Switzerland's largest bank was the purchase of American Wealthfront for $1.4 billion in cash.

Six months after Morgan Stanley stalwart Colm Kelleher took over as chairman, UBS has moved… Deal.

That was September 2022, and as we now know, Kelleher had his eyes on CS for a long time. Since then, the Hammers CEO has had an expiration date.

Apparently not a problem for bears. They have the Hammers “owed” to high-class headhunter Egon Zenner.

he has to According to the Trade newspaper You have a bear search mandate. Zehnder pulled strings on several great shots that turned out to be worthless.

This is the case with Portuguese Antonio Horta Osorio. The man who came to CS from Lloyds as president in the spring of 2021 was taken in as “blind”.

According to the newspaper SonntagsZeitung, his predecessor Urs Rohner and VR deputy Severin Schwan owned Horta Osorio before his appointment. I've never met in person.