ZURICH (Reuters) -Julius Baer has hired Goldman Sachs partner Stefan Bollinger to be its new chief executive, the Swiss private bank said on Tuesday.

The appointment ends a search for a successor to Philipp Rickenbacher who was ousted in February after Julius Baer suffered massive loss on loans to failed property firm Signa.

Bollinger, who is currently co-head of private wealth management for Europe, Middle East and Africa at Goldman Sachs in London, will join Julius Baer no later than Feb. 1, 2025, the Swiss bank said.

Romeo Lacher, chairman of Julius Baer, said Bollinger had an excellent track record in global banking and wealth management, and had played a major role in expanding the presence of Goldman Sachs in Asia, Europe, the Middle East and Africa.

Under his leadership over the past five years, Goldman's private wealth management business in Europe, Middle East and Africa more than doubled its assets under management.

"Stefan led and built outstanding businesses, most of them at the intersection of wealth management and capital markets," said Lacher.

"His experience combines a comprehensive understanding of risk, products, and of how to deliver value to global wealth management clients through building scalable client-centric businesses," Lacher said.

(Reporting by John Revill; Editing by Himani Sarkar and Christopher Cushing)