Boris F.J. Collardi has quit his CEO post at Julius Baer to lead Pictet's global wealth arm.
Collardi (pictured) had led Julius Baer since 2009, overseeing the global expansion of the firm through a number of acquistions, including the purchase of Merrill Lynch's non-US wealth arm in 2012.
More recently the private bank has made a more concerted push into the UK, hiring a number of Barclays wealth managers to open regional offices in four new locations.
Collardi will take up his new post with Pictet from the middle of 2018, becoming the seventh partner at the firm co-leading the wealth business alongside Rémy Best, who has been in sole charge of the division since December 2014.
'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,' said senior partner Nicolas Pictet.
'The fact that he is joining us is a powerful endorsement of our commitment to independence, organic growth, and focus on the long term, always in the best interests of our clients.'
Julius Baer has appointed its chief operating officer Bernhard Hodler as CEO with immediate effect, with the board evaluating the long-term leadership of the group.
Commenting on the news, Julius Baer chair Daniel Sauter said: 'Julius Baer is in excellent shape. 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.'
He added that the appointment of Hodler 'ensures continuity in our successful strategy and the delivery of our growth targets'.