(Reuters) – SCB Julius Baer on Tuesday said it has appointed Adrian Mazenauer, currently the head of its wealth management business in Thailand, as its CEO.
Mazenauer, who is also the company’s deputy CEO, will be heading the joint venture backed by Swiss wealth manager Julius Baer and Thailand’s Siam Commercial Bank.
The news comes shortly after Julius Baer announced plans to cut 400 jobs and shrink the executive board to five from 15, after posting a worse-than-expected 2024 pretax profit.
“His extensive expertise, deep understanding of the local wealth management landscape, and dedication to excellence make him the ideal leader to guide SCB Julius Baer into its next chapter,” Siam Commercial Bank CEO and Chairman Kris Chantanotoke said.
(This story has been refiled to correct the spelling of Siam Commercial in the headline and paragraph 2)
(Reporting by Nichiket Sunil; Editing by Varun H K)
