Swiss financial group Julius Baer has announced several appointments following a restructuring of its investment arm.
The firm said the new set-up will consist of the five regions Switzerland, Europe, Emerging Markets, Latin America and Asia Pacific and will lead to changes within the executive board of Bank Julius Baer & Co.
Region Switzerland will be led by Gian Rossi, currently head Northern, Central and Eastern Europe.
Barend Fruithof, head Switzerland & Global Custody and member of the executive board of the bank, will exit the firm after a handover “due to differing views of the functional changes in the context of the new regional set-up.”
The new Region Europe (excluding Central/Eastern Europe, including Israel) will be run by Yves Robert-Charrue, currently responsible for the Intermediaries business.
The newly established Region Emerging Markets will be led by Rémy Bersier. who currently holds the position of head Southern Europe, Middle East and Africa, and based in Dubai.
Also the group has decided to rename its investment solutions division as advisory solutions. It will be led by current Julius Baer’s head Structured Products, Philipp Rickenbacher, who will take up the role of head Advisory Solutions and become a member of the executive board of the bank as of 1 August 2016.
Lastly, Nic Dreckmann has been named as new chief operating officer of the bank and member of its executive board as of 1 August 2016.
Dreckmann will also become a member of the executive board of Julius Baer group as of 1 January 2017, succeeding Greg Gatesman who will step down by the end of 2016.
Giovanni Flury, another member of the executive board of Julius Baer, will retire at the end of the year.
Julius Baer had CHF305bn (€280.7bn) of assets under management at the end of April 2016.