Julius Baer CEO quits in surprise departure to join rival Pictet

Zurich

BORIS Collardi unexpectedly resigned as chief executive officer of Julius Baer Group Ltd to become a partner at rival Pictet & Cie Group SCA, triggering the search for a long-term successor. He will be replaced for now by deputy CEO Bernhard Hodler.

Mr Collardi, 43, will join closely-held Pictet as co-head of its global wealth management group as of mid-2018, the Zurich-based bank and Pictet said in separate statements on Monday.