Julius Baer CEO Collardi quits to take Pictet job
Julius Baer said CEO Boris Collardi unexpectedly resigned at the weekend to take a new role at rival Pictet Group, and appointed its top risk officer to replace him “for the foreseeable future”. Collardi had been CEO at the Swiss private bank since 2009 and Chief Risk Officer Bernhard Hodler will take on the job while the bank evaluates long-term leadership of the group, Julius Baer said in a statement. Shares in Baer, the biggest listed Swiss private bank, opened down 4.2 per cent. Collardi will join Genevabased Pictet as a partner and his role will include helping oversee its global wealth management business. With 494 billion Swiss francs ($504 bn) under management, Pictet is about 25 per cent bigger than Baer.