Julius Baer CEO bows out at private banking peak

Lloyd Doyle
November 28, 2017

Collardi joined the bank in 2006 when he was appointed as its COO.

Boris Collardi unexpectedly resigned as chief executive officer of Julius Baer Group to become a partner at rival Pictet & Cie Group, triggering the search for a long-term successor. Collardi will become a partner at family-controlled Pictet in Geneva, the two firms said on Monday.

He was set to join Pictet as its co-head of global wealth management from mid-2018.

Mr Hodler, who will take the reins from Mr Collardi, was named deputy CEO in September 2017 and has been a member of the bank's senior executive team since 1998.

Sauter 500
Julius Baer CEO bows out at private banking peak

He will be replaced by Bernhard Hodler, Juliues Baer's current Chief Risk Officer who has also held the positions of Chief Operating Officer and President of the Management Committee of the Bank.

Commenting on the news, Julius Baer chair Daniel Sauter said: 'Julius Baer is in excellent shape.

Julius Baer said the board will start "an evaluation process for the long-term leadership of the group". "We would like to thank Boris Collardi for his outstanding contribution and stewardship of the group over nearly nine years".

Julius Baer more than doubled its assets under management from CHF 150bn to CHF 393 under Collardi. Shares in the company fell by more than four percent in early European trading, and there is a possibility that other relationship managers and client assets could follow Collardi out of the door.

Other reports by Iphone Fresh

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