The youngest-ever chief executive of a
major Swiss bank has been appointed in the shape of Boris Collardi,
the 34-year-old who has taken the leadership of Bank Julius
Baer.
Currently serving as Baer’s chief operating
officer, he will succeed Hans de Gier in the CEO role.
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De Gier was made CEO on a temporary basis
to fill the vacuum at the top of the bank after the death of Alex
Widmer, who is believed to have taken his own life, last
December.
De Gier will now resume his role as chairman
of GAM, the Baer alternative investments manager.
Collardi, who was awarded PBI’s
Outstanding Young Private Banker Award last November and was tipped
by the magazine to be promoted to the role in December, is a Swiss
national with “broad experience in international private banking”,
a Baer spokesman said.
He joined the bank at the beginning of 2006,
after its acquisition of three private banks and GAM from UBS.
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By GlobalData“Boris played a decisive role in the swift and
successful integration of these banks and the subsequent
positioning of Bank Julius Baer as one of the premier addresses in
global wealth management,” the spokesman added.
Collardi previously spent a total of 12 years
at Credit Suisse, both in Europe and Asia, including the positions
of global chief financial officer and chief operating officer EMEA
of CS Private Banking.
Despite his experience in both the front and
back office, the Collardi appointment is seen as a brave one when
Swiss private banking arguably faces one of its toughest-ever
challenges – including OECD-coordinated pressure on banking secrecy
and the plunge in global markets which has decimated client
portfolios.
Baer’s private banking business may lose 11
percent of its client assets as secrecy is eroded, Citigroup
analysts estimated in a note to investors.
Three-quarters of assets under management
currently at the Baer private bank, which attracted net new money
of CHF9.5 billion ($8.3 billion) in the six months to December
2008, are from offshore clients, according to its annual
report.
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APPOINTMENTS |
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Senior moves – |
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|
Country |
Name |
Moved from |
Moved to |
Old position |
New position |
|
Germany |
Hakan Strangh |
Goldman Sachs |
JPMorgan |
Senior private banker |
Market manager, Germany |
|
Singapore |
Lim Eng Guan |
Credit Suisse |
Credit Suisse |
Location head, China |
MD private banking, Singapore |
|
Switzerland |
Blake Shorthouse |
UBS |
Credit Suisse |
Deputy head of key clients |
Head of UHNW, EMEA |
|
Switzerland |
Boris Collardi |
Julius Baer |
Julius Baer |
COO |
CEO |
|
Switzerland |
Rolf Bögli |
UBS |
Credit Suisse |
COO wealth advisory US |
Head of private banking Switzerland |
|
UAE |
Robbert Jan Voogt |
Fortis Private Bank |
Emirates NBD |
Head, private bank South Asia |
General manager, private bank |
|
UK |
Hugh Titcomb |
Ansbacher Group |
Principal Investment Management |
CEO |
CEO |
|
UK |
Shiv Khazanchi |
Standard Chartered |
Standard Chartered |
Head, private bank India |
Head, global non-resident Indian |
|
US |
Andy Saperstein |
Morgan Stanley |
Morgan Stanley |
Head, national sales GWM |
Head, US wealth management |
|
US |
G Patrick Fox III |
Blackrock |
Rockefeller & Co |
Business development |
Senior investment advisor |
|
Source: PBI |
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