Julius Baer has hired a prominent Singapore-based private banker off a rival. It is the third job change between Swiss banks in three years for the banker.
The Zurich-based private bank hired Febby Avianto as a managing director, a source familiar with the matter told finews.asia. An Asia veteran, Avianto joins the bank's office in Singapore from Union Bancaire Privee, where he held the role of Southeast Asia head for just over eight months.
In the past three years, Avianto has held three different roles, making him emblematic of the frequent churn and talent wars that is a staple of fast-growing Asian private banking.
Julius Baer is still hiring copiously in the Swiss bank's second home market after the departure of Chief Executive Boris Collardi.
Four Firms Since 2015
Avianto left the Royal Bank of Canada, where he was Southeast Asia head, for Falcon Private Bank two years ago. At the Swiss bank, he was head of private banking for all of Asia until last December.
Falcon was famously shut down in Singapore as a result of its dealings with 1MDB. Avianto jumped to UBP, a Geneva-based family-run firm, at the beginning of this year, again in a Southeast Asia head role. He departed in September, ostensibly for personal reasons according to a source. His hire by Julius Baer represents the fourth firm he has worked in 28 months.
