After nine years as the CEO of Julius Baer, Boris Collardi returned to Asia for the first time since joining rival Swiss private bank Pictet as a partner. How was the reception?
By Shruti Advani, Guest Contributor finews.asia
As Boris Collardi’s whirlwind Asia tour comes to an end, staff in the region are heaving a sigh of relief that the visit was «by and large an anti-climax», after the weeks of speculation and heightened stress around it.
The ex-Julius Baer boss is preparing to face off with his former colleagues in Asia, where Pictet has lagged. His entrance at Pictet represents a cultural clash: Collardi ran Julius Baer – virtually unchecked – during a phase of dizzying growth. By contrast, Pictet prides itself on a consensual decision-making and conservative balance sheet use – which insiders argue has cost the bank growth in Asia.
Collardi, who met his troops in Asia for the first time since becoming Pictet’s newest partner just four weeks ago, seemed his usual relaxed, confident self despite the presence of managing partner Nicolas Pictet (pictured below).
Cues on Display
In addition to «walking the floor», Collardi held town hall meetings at Pictet’s offices in Hong Kong and Singapore, «The town hall was a tame affair,» according to a source in Singapore.
Hong Kong staffers, meanwhile, paid close attention to the interpersonal dynamics on display, reading much into the fact that Collardi was accompanied around the office by Sharon Chou, head of North Asia rather than Claude Haberer, head of Asia (pictured below).
Aggressive vs Conservative
Concerns around Collardi’s visit had focused on whether he would strike an aggressive stance when talking about the Asia business, which lags behind peers like LGT and Julius Baer in assets despite being one of the most respected banks in its home market. But these fears were soon put to rest.
«It is business as usual really», continues the source, «until Collardi returns in September.»
