Boris Collardi’s long-anticipated Asian thrust for Swiss private bank Pictet begins. And he has already delivered on his promise of «easier credit» for bankers whose clients have large relationships with the bank.
Boris Collardi’s arrival in Asia is always greeted with heightened emotions – anticipation, excitement and sometimes anxiety. Last week, when the partner of Swiss bank Pictet spent time in both Hong Kong and Singapore as part of his Asian tour, was no different.
«This trip was different,» said one person close to the developments who prefers to remain anonymous. «It was more than just the usual town-hall followed by a walk about the floor,» he explained, saying Collardi met with several bankers outside Pictet, which has «disrupted the market in Asia» as several people now have «firm offers with numbers where earlier they had only conversations».
Making Clear She Means Business
Although he has met with senior bankers from several different banks, including the large and medium-sized Swiss players in the region, Collardi’s focus remains on the vast existing network of bankers he built during his time as CEO of rival Julius Baer.
The trip marks the first time Collardi has been in the region since his most senior hire from Julius Baer in Asia, has started in her new role: Pamela Phua (pictured above) joins Pictet with two other bankers and two assistants and is already «making it clear she means business», confirms a source to finews.asia.
Easier Credit
Collardi has also delivered on his promise of «easier credit» for bankers whose clients have large relationships with Pictet, confirms the source who says «lending has loosened» and there is «a can-do attitude» with plenty of support for high-performing relationship managers.
Ironically, the formula-driven pay scale at Julius Baer that he championed during his time as CEO, has frustrated Collardi’s attempts to lure away more than a handful of bankers.
Not the Same Kind of Success
«He hasn't had the kind of success [hiring] in Asia as he did with the Middle East business for example, where he has moved large teams,» agrees the source.
