One of Switzerland's largest private wealth managers will have a new chief executive officer, aged only 34, the Julius Baer bank announced on Tuesday.The private bank said Boris Collardi would take over from current CEO Johannes de Gier.
Collardi, a Swiss national born in 1974, worked for Credit Suisse before joining the private wealth manager in 2006. The previous CEO of Julius Baer, Alex Widmer, died suddenly in December 2008 at the age of 52, amid rumours that it was a suicide.
De Gier is set to continue in his role as Chairman of GAM Holding Ltd., the investment wing of the larger Julius Baer financial group. Julius Baer has seen declining funds in its assets management division and has said it wants to focus more on private banking. At the end of 2008, Julius Baer said its total client assets amounted to 338 billion Swiss Franc ($295 billion).
Earlier this month, the bank appointed Venkatraman Anantha-Nageswaran as its new Chief Investment Officer.Collardi takes over as Switzerland, along with some other European nations, prepares to relax its banking secrecy laws.