Stegmeier resurfaces at Bank Julius Baer 28 October 2019Zurich Reporter: Maddie Saghir
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Daniel Stegmeier has temporarily come out of retirement to join Bank Julius Baer (BJB), a Swiss multinational private bank, to offer his extensive securities finance expertise to cover gaps left by a series of departures.
Stegmeier will support the bank鈥檚 head of collateral trading, Jong Frochaux, bank鈥檚 , who is currently managing the responsibilities of three roles, including collateral trading, equity trading, fixed income trading and management during this 鈥渋ntense time鈥�.
He has joined the bank for a six-month contract, with the option open to extend.
Frochaux explained that a quick solution was needed and that he required someone with a proven track record to come in immediately while the vacancies were filled.
鈥淚n Daniel Stegmeier we found a very well-known person in industry who could start immediately,鈥� he said.
In 2017, Stegmeier retired from his job at AXA Investment Managers, where he had worked for 18 years. Stegmeier first joined AXA in 1999 as head of securities financing trading before becoming a securities financing trader.
Prior to AXA, Stegmeier worked in various roles at UBS from 1991 to 1998 including head of securities lending.
The hire comes in response to , who resigned from his role as head of collateral trading and collateral management in May. Sven Buehring, a trader, also resigned soon after, BJB confirmed.
Additionally, Ursula Krebs who moved from the money market treasury team and was absent for almost six months, meaning that the bank鈥檚 securities finance and collateral team was left understaffed
Frochaux confirmed that BJB will use this interim period to fill Sven Buehring鈥檚 open position with a fixed hire starting in early neary year.
As well as this, Jong noted that in coming months, BJB will be announcing new team members.
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