The Swiss private bank and asset manager Julius Bär will reduce its top management in order to simplify the organization and speed up decision-making. It is the first major intervention at the company by recently appointed CEO Philipp Rickenbacher. The ‘executive leadership team’ will be reduced from fifteen to nine members early next year. The positions of chairman of the board, financial director and operational director remain unchanged, but the head for the Switzerland region resigns. In addition, the geographic regions for services to customers are being reduced from five to three. Rickenbacher took over at 1 September from Bernhard Hodler’s Julius Bär.