Edmond de Rothschild group has tapped Vontobel to hire Lars Kalbreier as the global CIO of Private Banking.

Kalbreier joins from Vontobel Wealth Management, where he worked as the CIO.

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Kalbreier will assume the new responsibility on 1 October 2020, with the responsibility to manage all asset management operations including discretionary management and investment advisory for the private bank.

He will also be tasked with implementing the asset allocation strategy and developing investment solutions for private clients.

“I am convinced in the relevance of Edmond de Rothschild’s offer, which combines innovative investment solutions and strong expertise in the management of real assets, thereby enabling it to best meet the needs of private banking clients,” Kalbreier said.

He will operate out of Switzerland and be a member of the asset management and private banking executive committees.

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Speaking to PBI, head of asset management Christophe Caspar, explains how this hire is part of the bigger plan for the firm.

  • How long has this hiring been in the making? It’s quite a coup.

The hiring of Lars was decided months ago and demonstrates our ability to hire high level profiles. It is part of our strategy of being a conviction-driven investment house. Investment is a central piece of our value proposition and it is very consistent to hire someone with a double function of Global CIO of wealth management in charge of the private bank’s investment philosophy and of the management of our investment platform.

  • Will we see more appointments coming in?

We are always open to hire high profile individuals that fit our groups’ long-term vision.

  • How is Edmond de Rothschild retaining talent? Many are talking about scores of talent leaving banking into tech sectors and the like. How do you keep the talent within the Group?

Retaining talents is a mix of several factors. First, the company culture is central. We are a family run business, with a committed shareholder with whom we share values: a sense of purpose, a long-term vision and the constant search of excellence. This culture has a real impact on the way we conduct our business:  we are a conviction-driven investment house with a focus on the long-term and on the real economy. It allows us to offer differentiated client oriented solutions. Edmond de Rothschild is also much more than a bank, it is an ecosystem of entrepreneurial and philanthropic activities that reflects our convictions. And that makes for an attractive environment for talents.