The Julius Baer bank from Switzerland announced in its annual report, published on Monday, that the current managing director Nick Dreikman will receive a total salary of 5.8 million Swiss francs ($6.56 million) by 2024. In 2023, Dreikman's predecessor, Philipp Rikin, received a compensation of 1.7 million Swiss francs after the catastrophic losses of the bank due to the collapse of the SIGMA group real estate.
"In 2024, Nick Dreikman will receive an annual salary of 5.8 million francs," the report notes, presented by the bank. "This is a significant increase compared to 2023 when Philipp Rikin was awarded a total of 1.7 million francs."
The bank faced serious financial problems after the collapse of the SIGMA group, which led to losses the previous week. "As a result of the crisis, we had to restructure the support system for participants of the management," the report states.
