Swiss financial services firm SIX announced that its Chairman, Romeo Lacher, will be stepping down from his role in 2020.
Lacher has been on SIX’s board since early 2008 and was appointed as Chairman in early 2017.
The former banking executive took up the position after spending almost thirty years at Credit Suisse.
During his time with the firm, he held a number of senior roles, including Global Head of Private Banking Operations and Head of Private Banking for Europe, the Middle East, and North Africa.
When he left Credit Suisse in 2016, Lacher was working as Chief Operating Officer for the bank’s international wealth management division.
Stepping down at the next annual meeting
According to a statement released by SIX, Lacher will step down at the company’s 2020 Annual General Meeting.
SIX is yet to find a successor to the outgoing president, but the company will begin the search for one in the coming days.
Lacher’s decision to step down from his role as Chairman comes after it was confirmed that he would be taking the same position at Julius Baer – a Swiss bank based in Zurich.
Julius Baer announced the appointment in January of this year, and it will be made official next month.
After taking up this position, it seems that most of the day-to-day tasks that Lacher performed at SIX will be handed to someone else.
Having said this, it doesn’t appear as though the outgoing Chairman will be doing nothing for SIX in the next twelve months.
“Until his departure, Romeo Lacher will continue to accompany the transformation of SIX, which is already at an advanced stage,” said the Swiss firm in a statement.
“Last year, SIX realigned itself strategically and organizationally in order to actively advance the further development of the financial market infrastructure.”