Private bank Julius Baer is turning its markets unit into a separate division. Its existing leader will join the bank's executive board.
Starting July 1, the Markets business of Zurich-based Julius Baer will become its own division and continue to be led by Luigi Vignola, who will also join the executive board as an additional member, the bank announced on Wednesday.
The structural change and appointment of Vignola to the board reflect the importance of the markets division for Julius Baer in providing a leading wealth management offering to its clients, the statement said.
Vignola joined the bank's structured products unit in 2009, moving to Singapore in 2012 to lead the Asian products teams, expanding the business in the region. In 2017, he returned to Switzerland to take over as the global head of structured products and took over the markets unit in 2019.
According to his Linkedin profile, he was also a managing director at Deutsche Bank for three years starting in 2006, prior to which he spent six years at the ZKB as head of structured products and equity derivatives.
«I am delighted to welcome Vignola to the executive boards of Julius Baer. He and his team in markets have delivered excellent results over the last few years and are continuously expanding our solution offering. Given his outstanding performance and in-depth expertise in financial markets, I am confident that he will contribute to successfully shaping and implementing our strategy in the years to come,» said Julius Baer CEO Philip Rickenbacher.
