Why did Julius Baer pay Stefan Bollinger CHF 24 million?

The CHF 24 million covers two parts. A CHF 14.76 million transfer fee compensates awards he left at Goldman Sachs when changing employers. The remaining CHF 8.27 million is linked to operational activities. Investors should treat the buyout as one time and evaluate recurring elements against performance and risk outcomes.

Does the package include a transfer fee for Goldman Sachs awards?

Yes. Julius Baer granted CHF 14.76 million to offset deferred pay Stefan Bollinger forfeited at Goldman Sachs. Such awards are common in senior hires, often vest over time, and can include deferral and clawback terms. The aim is retention without overpaying for ongoing performance that still must be delivered.

How does this compare with CEO pay Switzerland peers?

Reports indicate the award tops the highest pay at UBS, intensifying debate on CEO pay Switzerland. Investors should compare structures, not just totals. Look at peer sets, deferral strength, performance hurdles, and caps. One time buyouts can inflate a single year, while recurring pay shows the steady state level.

What should shareholders focus on at the AGM?

Ask about vesting schedules, performance targets, deferrals, and clawbacks for both the transfer fee and variable pay. Request clarity on peer benchmarking, payout scenarios, and caps. Also review how compensation aligns with cost to income targets, capital buffers, client growth, and risk adjusted returns before casting a binding vote.

Global Market Insights

Julius Baer CEO Pay March 16: Stefan Bollinger’s CHF24m Tops UBS

ByDanny Kontos March 16, 2026

Stefan Bollinger is in focus after Julius Baer set total compensation at CHF 24 million for 2025. The package includes a CHF 14.76 million transfer fee for foregone Goldman Sachs pay and CHF 8.27 million linked to operational activities. The award tops the highest pay at UBS, putting CEO pay Switzerland under a brighter spotlight during AGM season. We explain what is one off, what may repeat, and what investors in Switzerland should watch next.