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Fruithof's sudden exit underscores that is is difficult for an outsider to prevail in the supercharged internal politics at Julius Baer. The apppointment of Hodler, who joined the bank in 1998 and knows it inside out, as a safe pair of hands is emblematic of this. An outsider has to proceed with extreme caution when dealing with Julius Baer's influential «little lords».

6. «Bling» Factor

The 43-year-old CEO lent Julius Baer glamour: it was the car-loving Collardi who initiated the bank’s discussions with Formula E (the bank is now the circuit’s exclusive global partner). Collardi also championed an annual gala in St. Tropez, which Madonna dropped in this year. The event partners the bank with the Leonardo DiCaprio’s foundation – an association that has been tainted recently due to the Hollywood actor’s involvement in the 1MDB scandal. To be sure, it is hard to imagine that Hodler – who is as Swiss as they come – will be able to fill Collardi’s glamorous footsteps.

7. IT Move Looms

Unlike competitors such as EFG International, Julius Baer dragged its feet deciding how to update its archaic IT. Two years ago, the bank finally decided for Temenos' T24 system, which has begun rolling out in Asia, with Europe to follow next. Julius Baer's purchase of Commerzbank in Luxembourg two years ago is a setpiece for the move, which will see Switzerland migrating to the new system next year. 

IT migrations are known for their dicey, detail-oriented drudgery – not Collardi's strong suit. Hodler was dispensed to run the project, called Vision 2020, anyway. It's a good bet that much of his time as CEO will be spent devoted to ensuring its success.

8. Two Lucky Moves?

Collardi faced a chorus of doubts when he ascended to the top job at Julius Baer when his boss and mentor, Alex Widmer, committed suicide almost exactly nine years ago. His youth, his lack of «front» or client-facing experience and his lack of a university education were cited as weaknesses.

Eight years on, even his detractors admit Collardi has done well for the bank and for shareholders. It remains to be seen whether Chairman Sauter can conjure up as successful a candidate when Hodler's time is up.