Julius Baer Board Quizzes CEO Bollinger Over Low Staff Morale

Julius Baer Group Ltd. Chief Executive Officer Stefan Bollinger was questioned by the bank’s board of directors over negative feedback in an internal employee survey, underlining the headwinds he’s facing in his bid to turn the lender around.

The governance body led by Chairman Noel Quinn asked Bollinger in a meeting last month to discuss the reasons for the low morale expressed in the latest installment of a staff poll, people familiar with the matter said. The board also asked Bollinger to explain what he’s planning to do to make sure the metrics improve, the people said. The people asked not to be named discussing the private matter.