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SWISS private bank Julius Baer has on Monday appointed its chief risk officer Bernhard Hodler as chief executive officer (CEO), following the resignation of Boris Collardi.
Mr Collardi, who had been Julius Baer's CEO since 2009, will join privately owned Geneva-based wealth and asset manager, Pictet Group, as a partner and co-head of its global wealth management group in 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. He has also held senior positions, including chief operating officer and president of the management committee of the bank, Julius Baer said in a statement on Monday.
"His appointment ensures continuity in our successful strategy and the delivery of our growth targets," said Daniel Sauter, chairman of Group Julius Baer.
"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."
Nicolas Pictet, senior managing partner of Pictet said: "We are delighted to be able to appoint as a partner someone of Boris Collardi's calibre and reputation in the industry, especially at a time when the prospects for wealth and asset management globally have never been more promising, nor more challenging."