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April 17, 2009updated 04 Apr 2017 3:56pm

Julius Baer plays its ace card

(Free) 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 Baers chief operating officer, he will succeed Hans de Gier in the CEO role. 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.

By PBI Editorial

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.

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.

“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.

APPOINTMENTS

Senior moves – March-April

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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