The chair was still warm. Barely had Lombard Odier announced it hired CIO Michael Strobaek from Credit Suisse, the latter announced his replacement.
Burkhard Varnholt becomes the Chief Investment Officer (CIO) for Credit Suisse on May 8, and will also serve as chairman of the Investment Committee, it said in a statement Thursday.
Varnholt replaces Michael Strobaek, who only moments before Varnholt's appointment was presented as the new CIO at Lombard Odier, suggesting the move was known in advance. He will report to Francesco De Ferrari, the CEO of Wealth Management, and also joins the management committee of the division.
Two Stints at Credit Suisse
Starting his career at Credit Suisse in 1996 as Global Head of Financial Products and Investment Advisory in private banking, Varnholt remained until 2006.
From 2006 until 2014, he was CIO at Bank J. Safra Sarasin and was subsequently CIO and Head of the Investment Solutions Group at Julius Baer for nearly two years. He rejoined the bank in November 2016.
