Q1: Reflecting on 2025, what were your bank’s major milestones from an operational perspective, and how did you achieve them? Conversely, what were the setbacks and challenges encountered along the way, and what measures were taken to surmount them? How have those lessons shaped your 2026 strategy?

2025 was a year of transition for Julius Baer, during which we strengthened our organisational set-up, addressed legacy issues, and defined a clear strategic focus for the next chapter in our development. The COO function played a central role in shaping Julius Baer’s 2026– 2028 strategy, driving the bank’s digital transformation and leading the successful group-wide reorganisation. Building on this foundation, we defined and communicated a clear COO strategy, aligning our teams around key strategic objectives and targeted initiatives. 

Significant progress has been made across our strategic priorities. 

To enhance client service, we evolved our front-office operating model to be more client-centric. This resulted in refined roles for front-office managers, with a primary focus on clients. As a result, the COO organisation was challenged to review and further streamline support processes. Therefore, we launched ‘Ease of Doing Business’ as a core transformation initiative to give relationship managers and front-office managers more time to focus on clients. 

Critical technology initiatives included the global launch of Wealth Navigator, now adopted by over 1,000 daily active users. This all-in-one platform brings together holistic wealth planning, investment advisory, discretionary services, and curated content within a single, intuitive workspace. 

In addition, the roll-out of the corporate action orchestrator achieved automation and process efficiencies for both front-office and operations team members.

Despite high workloads and market volatility, our teams remained focused and service-driven. These combined advances — in strategy, technology, and culture — position us confidently as we enter the next phase of our journey in 2026.

Q2: As private banks invest in upgrading their KYC systems and scaling AI capabilities, how are you addressing the operational challenges of integrating these technologies while driving measurable KPIs in revenue growth and delivering hyper-personalised client experiences?

Our relationship managers in Asia are leveraging AI to boost productivity and strengthen client relationships, powered by JULIUS AI (JAI) — our secure, enterprise-grade LLM assistant launched at the end of 2024. For example, they use JAI to quickly access investment research, interpret compliance rules, and prepare for client meetings via natural-language searches across the bank’s knowledge base. Within months of launch, JAI reached over 40% weekly active user adoption, making it the fastest-adopted internal platform in the bank’s history. Full access follows mandatory AI risk awareness training for all staff. 

AI is also automating time-consuming tasks: drafting meeting notes, transcribing calls with speaker diarisation, translating content, summarising information, and generating event contact reports. 

Early feedback shows RMs are better prepared, respond faster, and engage with greater confidence. By streamlining routine work, AI allows more focus on advisory depth, succession planning, and complex family needs — areas where human insight is indispensable. 

Beyond client-facing applications, AI is reshaping risk and operations: enhancing fraud detection, streamlining document reviews, and supporting source-of-wealth write-ups. Together, these advancements are building a foundation for smarter, more scalable, and sustainable growth. In risk management, AI enhances fraud detection and AML screening by spotting subtle, non-linear patterns, improving threat identification while reducing false alerts. 

Our aim is augmented intelligence: combining machine efficiency with human judgment to deliver safer, sharper, and more personal wealth advice. While JAI empowers our staff, human accountability remains paramount. 

Q3: The cost-to-income ratio is a key metric for assessing bank performance. What range do you consider optimal, and how is the bank managing the cost side—across investments, real estate, and other operating expenses—to maintain efficiency and competitiveness in the region?

We remain focused on achieving positive operating leverage, targeting an adjusted cost/income ratio below 67% by 2028. We expect to achieve additional savings by completing the ongoing optimisation of our operating model, end-to-end process reengineering, and simplifying IT systems. Equally important will be embedding sustainable cost discipline throughout the organisation. 

As part of our strategic agenda, we will continue investing in digital capabilities for both clients and front-line employees. These tools are designed to enhance, not replace, our hallmark personal service, supported by a scalable and harmonised technology foundation. 

Q4: With regulatory requirements continually evolving, private banks are reassessing their compliance systems and processes. From an operational perspective, what are the biggest challenges you face in meeting these requirements, and how is the bank tackling them to maintain both efficiency and client trust?

At Julius Baer, compliance is not just about procedures; it’s embedded in our culture. From day one, our people are trained to ask not only what is permissible, but what is right. This mindset shapes every client interaction, recommendation, and internal process. 

We empower our teams with clear escalation pathways, real-time guidance, and continuous training, enabling swift, confident action, even in complex situations. Early detection and accountability are core to how we operate. 

Equally important, we recognise that clients expect compliance to be seamless. We are working to streamline documentation processes and introduce systems to simplify client onboarding while maintaining the highest standards of due diligence. Automation and AI are enhancing transaction monitoring, KYC updates, and reporting accuracy, while digital workflows embed compliance seamlessly into daily operations. All these initiatives are executed in close partnership between the COO and the compliance teams.