Swiss bank Julius Baer has announced an alignment of its organisation. The new set-up will consist of five re-calibrated regions, and will lead to changes within the Executive Board of the bank. What's in it for Asia?

The new set-up will consist of the five regions, namely Switzerland, Europe (new), Emerging Markets (new), Latin America and Asia Pacific. There are also senior management changes. Philipp Rickenbacher has been appointed as new of Head Advisory Solutions, and Nic Dreckmann as new Chief Operating Officer of the Bank.

«The alignment of the front organisation will enable a period of very strong growth of our Group. The changes, which are beneficial for our clients and ease the set-up of our regional structure, are a further step to confirming our position as the leading Swiss private banking group,» said Boris F.J. Collardi, Chief Executive Officer.

The bank hopes that the alignment of various markets within the new regional structure as well as the adjustments within the products and corporate functions area will eventually lead to efficiency gains.

The Realignment Details – Departure

Region Switzerland will be led by Gian A. Rossi. The Intermediaries business will be allocated to the new regional set-up and largely integrated into the Region Switzerland which includes the Global Custody business as well. Barend Fruithof, Head Switzerland & Global Custody and Member of the Executive Board of the Bank, has decided to leave 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. He will further develop the European strategy mainly out of the new European hub Luxembourg following the recent acquisition of Commerzbank International S.A. Luxembourg. At present he is responsible for the Intermediaries business.

The newly established Region Emerging Markets will be led by Rémy A. Bersier. The Region’s strategy will be to further capture growth opportunities in Central/Eastern Europe/CIS, the Middle East, India and Africa. Rémy Bersier, who currently is Head Southern Europe, Middle East and Africa, will be based in Dubai.

As far as Asia is concerned, no further structural changes were announced.