Swiss private banking group Julius Baer has named Luigi Vignola as the new head of its markets division, replacing Peter Gerlach.

Vignola will also join the executive board.

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At present, he serves as the global head of structured products at Julius Baer.

Previously, he headed the bank’s Asian products teams in the role of head of markets and advisory solutions.

Gerlach will resign from his existing position on 1 July 2019. He was in charge of the markets division for 14 years.

His new focus will be to lead the bank’s innovation efforts to develop new wealth management business models.

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Julius Baer CEO Bernhard Hodler said: “Peter Gerlach looks back at a distinguished career at Julius Baer and has been instrumental in leading the technological transformation of our Markets Division since he took over in 2005.

“He is therefore the ideal person to work on Group-wide pioneering initiatives and projects that will help us to shape the future of wealth management.

“I also look forward to welcoming Luigi Vignola, another internal talent, to our Executive Board. With his international experience, passion, and energy, I have no doubt that Luigi will take our Markets Division to the next level.”

Other recent management changes  

This March, Julius Baer appointed Raymond Li as the new group head of its Greater China business.

Last month, the bank named Fabio Bariletti as the CEO of its Italian asset management unit Kairos.