Julius Baer nominates British wealth manager Nicol to board to head risk committee

ZURICH (Reuters) - Julius Baer is proposing British wealth manager David Nicol as a new member of its board of directors, it said on Tuesday, earmarking him to become head of the board's risk committee as current Vice Chairman Charles Stonehill steps down.

"The Board is very pleased to have found in David Nicol a seasoned financial industry expert with vast executive and board experience," Chairman Romeo Lacher said in a statement.

"Upon his election, it is therefore envisaged that David Nicol will take over from Charles Stonehill as Chairman of the Governance & Risk Committee."

Nicol, who was Chief Executive of British wealth management firm Brewin Dolphin until June 2020, will stand for election at the bank's annual general meeting on Apr. 14. Stonehill has decided not to stand for re-election after serving on the board for 15 years, Switzerland's third-largest lender said.

(Reporting by Brenna Hughes Neghaiwi; Editing by Kim Coghill)