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.

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“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