Boris F.J. Collardi, chief executive of private bank and wealth manager Julius Baer, has left for rival Pictet.
Mr Collardi has resigned and will leave the company with immediate effect, according to a statement released by the company this morning (27 November).
He is to join Pictet Group as co-head of its wealth management division, a role he will take up in 2018.
Bernhard Holder has been appointed as chief executive of Julius Baer with immediate effect.
Mr Holder had previously been chief risk officer of the group, and has been deputy chief executive since September 2017. He has been an employee of the company since 1998, and among his previous roles is chief operating officer.
On 20 November, the company released an interim management statement, which showed the company now has assets under management of £300bn, an increase it said is within its target range of 4-6 per cent growth.
Daniel J. Sauter, chairman of Julius Baer said: “Julius Baer is in excellent shape. We would like to thank Boris Collardi for his outstanding contribution and stewardship of the Group over almost nine years. While we regret losing him, we respect his personal desire for a change and wish him all the very best for his future.”