Swiss private bank Pictet Group has named Victor Aerni as new CEO of its wealth management business in Asia, starting from 1 July 2023.
Currently, Aerni is head of Pictet Wealth Management in German speaking Switzerland.
In his new role, Aerni will be based in Singapore.
He will replace Tee Fong Seng, who will continue to serve as the vice-chairman of Bank Pictet & Cie (Asia) Ltd’s (BPCAL) Board of Directors, based in Singapore.
Seng will now report to Pictet Group managing partner and board chairman François Pictet. He will continue to focus on the wealth management market in Asia, the bank said.
An equity partner of Pictet, Aerni has served as zone head covering German-speaking part of Switzerland since April 2009.
With a degree in International Business and Economics from Sophia University, Tokyo, he also worked with the Boston Consulting Group for a period of 16 years.
Meanwhile, Pictet is working on the process to appoint a new face to succeed Victor Aerni.
Pictet Group managing partner Marc Pictet said: “We congratulate Victor on his new role. He has put Pictet Wealth Management on the map in Zurich both building the team and managing clients with significant success.
“We are confident he will bring his strategic acumen, sense of tradition and strong entrepreneurial spirit to further develop our business in Asia.”
Additionally, Pictet’s Asia Investments head Evelyn Yeo will take charge as BPCAL Deputy CEO from 1 January 2023.
In the new role based in Singapore, Yeo will work along with BPCAL CEO and South Asia head Sharon Chou.
However, the appointment awaits regulatory clearance. Evelyn Yeo will also continue to lead the Asia Investments team.