Private Banking Executive Moves | Q4 2022

Switzerland

CFM Indosuez Wealth

Alexandre Ledouble has been appointed CFO of Indosuez Wealth Management. He has been with Crédit Agricole since 2006. He has previously been for the Group's Capital
Management and Resolution Planning.

Cembra Money Bank

Felix Weber will not stand for re-election as Chairman of the Board of Directors of Cembra at the 2023 Annual General Meeting. The Board of Directors proposes Franco Morra as his successor.

Credit Suisse

Louise Kitchen has been appointed as Head Capital Release Unit (CRU) at the beginning of November. She reports directly Dixit Joshi, CFO. Kitchen was with Deutsche Bank as Head of Capital Release Group before joining CS.
Carsten Stoehr has left Credit Suisse on December 15. Stoehr will step down from his current roles as Greater China CEO as well as chairman of Credit Suisse (Hong Kong) and Credit Suisse Securities (Hong Kong).
Reto Leisi will take over as Head of Entrepreneurs & Executives (E&E) for the Greater Zurich market area at Credit Suisse (CS) as of February 1, 2023. Leisi succeeds Aaron Keller, who has moved to Zurich-based private bank Rothschild & Co.
Nicolas Friedman has been appointed head of risk for Investment Banking & Capital Markets (IBCM), effective November 4. Friedman will be based in New York. He joins from Goldman Sachs, where he was head of credit risk for the Global Markets Division.
Craig Bricker, who has taken control of a new risk analysis and resolution group, joins from Goldman.
Ben Wilkinson moves to Wealth Management as head of risk from CS's investment bank.
Greg Frenzel has been promoted to chief credit risk officer.
Thomas Herrmann was appointed head of the newly formed Corporate Risk team, which bundles reputational, sustainability and climate risks.
Yves-Alain Sommerhalder is on the move at Credit Suisse (CS). The Swiss was appointed global head of products and finance in the new wealth management division just last January.
Credit Suisse has appointed Nita Patel as Chief Compliance Officer, effective November 1. The manager, who was previously Chief Compliance Officer for the Asset Management business and the UK Investment Bank, will become a member of the Executive Board and report directly to Ulrich Körner. Patel succeeds Rafael Lopez Lorenzo, who has decided to step down for family reasons.
Jesper Andersen will take over as Head of IT Switzerland at Credit Suisse as of January 1, 2023. Andersen will thus become a member of the Executive Board of Credit Suisse Switzerland and of the Chief Information Officer Management Committee. Andersen has been CIO and member of the Executive Board at Nykredit since 2017. Andersen will report to global Chief Information Officer Laura Barrowman as well as to André Helfenstein, CEO of Credit Suisse Switzerland.
The previous CS investment banking head Christian Meissner leaves the company.
Head of the new capital markets and advisory bank CS First Boston will be Michael Klein - subject to regulatory approvals. The American will thus leave the Board of Directors of Credit Suisse (CS), of which he had been a member since 2018. Klein takes over from David Miller, who will continue in the role as Global Head of Investment Banking & Capital Markets during the transition period.
In addition, Mike J. Ebert and Ken Pang have been appointed co-heads of Markets, effective early November 2022. They will report directly to CEO Körner. Ebert was Co-Head of the Investment Bank and Co-Head of Global Trading Solutions. Pang was Co-Head of Global Trading Solutions and Co-Head of Investment Bank for the Asia Pacific (APAC) region.

EFG International

Maria Leistner will be proposed to the shareholders as a new member of the Board of Directors. She will succeed Steven Jacobs, who has decided not to stand for re-election at the next Annual General Meeting in April 2023.
Susanne Brandenberger will also not stand for re-election on that date. Her successor will be announced in due course, the statement added.
At the end of November, Peter Fanconi was succeeded as Chairman by Alexander Classen.
Boris Collardi, former CEO of the private bank Julius Baer and ex-partner of the Geneva-based competitor Pictet, was also elected at an extraordinary general meeting in October.
Vassiliki Dimitrakopoulou takes on the role of Global Head of Legal & Compliance on a permanent basis, having already held this position on an interim basis.
Chief Human Resources Officer Ioanna Archimandriti appointed member of the Global Business Committee.

Miraubaud Private Bank

Carel Huber joins the wealth management team of Geneva-based private bank Mirabaud. He takes over as global head of independent wealth managers. Huber is based in Geneva and reports directly to Nicolas Mirabaud, Mirabaud's managing partner and head of wealth management. He took over as head of the client service teams for independent wealth managers in Switzerland and internationally on October 1. Huber most recently worked as Head of Independent Asset Managers Department Switzerland in Geneva at Société Générale's Private Banking division.

Pictet

Verena Gross has been appointed head of Private Wealth Management (PWM) at Pictet for German-speaking Switzerland. She succeeds Victor Aerni, who will move to Singapore next summer to take over responsibility for the wealth management business in Asia. Gross has been working for Pictet for more than 13 years. She is currently a team leader in Pictet Wealth Management's Private Banking division in German-speaking Switzerland. In her new role, she will also become a member of PWM's Executive Board. The appointment will take effect on July 1, 2023.
Pictet Asset Management is building a new division with private debt - loans to privately held companies. The new team, led by Andreas Klein, will be based in London. Klein joined Pictet Asset Management in early 2022. Previously, he spent eight years at UK rival ICG as managing director and was instrumental in setting up and expanding the direct lending strategy.

Swisscard

Linda de Winter will become the new Chief Information Officer, while Roman Binder will take over as the new Chief Financial Officer (CFO) at Swisscard. Both will take up their positions in spring 2023. De Winter has been Head of Development and a member of the IT management team at Swiss Post since 2016. Binder worked for many years in finance, risk and strategy, with positions at the major banks UBS and Credit Suisse. He is currently CFO at Microcaps, an ETH spin-off.

UBP

The head of the Frankfurt branch of Geneva-based private bank Union Bancaire Privée (UBP) Thomas Body has left the company. Body had taken over responsibility for the institutional business at UBP in June 2021 and was head of asset management in Germany and Austria. His area of responsibility has already been reassigned internally: Maribel Mozzi, previously head of UBP's institutional business in Switzerland, has additionally taken over Body's responsibilities. Mozzi has been with UBP since 2016. Previously, she had held positions of responsibility at major US bank J.P.Morgan, among others.

UBS

Josef "Joe" Stadler, Executive Vice Chair Global Wealth Management, is retiring: By the end of 2023, the banker will leave UBS.
UBS has appointed Aydin Sahin as its new Head of Marketing & Digital Sales Switzerland. He started on January 1 and takes over from Daniel Fischer, who moves to Group Communications & Branding.
Damian Vogel will become a member of the Group Executive Board of UBS at the beginning of May 2023. He will succeed Christian Bluhm as Chief Risk Officer (CRO), who has announced his retirement. Vogel currently serves as head of risk in Global Wealth Management (GWM), the banking group's core business. Since joining UBS in 2010, he has held various risk-related leadership roles in the GWM division as well as for the Switzerland business (Personal & Corporate Banking) and for the Switzerland region.
John McDonald has been appointed Group Head of Marketing and succeeds Johan Jervoe. McDonald joins UBS from Mastercard.
The external communications of the bank is under new management. Mark Hengel has decided to leave UBS next June after 21 years of service to pursue his career elsewhere. He will now be replaced by Michael Spiess, who most recently managed the communications of the Anglo-British bank HSBC in Switzerland as well as the media relations of global private banking. He will report to UBS' head of corporate communications, Jay Frame, who has been previously announced and took up her post in January.

Vontobel

Melissa Demcsik will become the new CEO of Vontobel Asset Management in the US at the end of March 2023. She succeeds Thomas Wittwer, who will retire on that date. Demcsik, for her part, has been with Vontobel for 22 years. She will also bring her experience from product management and the investment business to her new role.
Peter Romanzina, ex Head of Research for Swiss Equities at Vontobel, has taken over as CEO of Vontobel subsidiary Vontobel Swiss Wealth Advisors (VSWA). VSWA specializes in the Swiss business with the offshore assets of US citizens. The new CEO is then also expected to lead the new entity that will be created with the legal and operational merger of Vontobel SFA (formerly UBS Swiss Financial Advisers) and VSWA at the end of the first quarter of 2023. The new, merged company will then operate under the name Vontobel SFA. Jürgen Wegner, the head of the former UBS unit, will become deputy CEO there alongside Romanzina. Meanwhile, Jean-Philippe Bertschy will take over from the latter as head of the Swiss Equity Research team. Jacqueline "Jackie" Hess, who previously led VSWA, acts in the role of vice chairman. Georg Schubiger, the Group's head of private banking (wealth management), holds the chairmanship.

VP Gruppe

Mara Harvey takes over as Head of Swiss Bank at VP Group. As of January 1, the economist, who has more than 20 years of experience in private banking, will also be responsible for the European region, which, in addition to the Zurich location, also includes the Luxembourg location. The appointment comes in the wake of a recent reorganization of the banking group. The Client Solutions business unit was dissolved at the end of 2022.
Thomas von Hohenhau, who previously headed Client Solutions, will accompany the transformation. However, he has decided to leave VP Bank thereafter.

Zürcher Kantonalbank (ZKB)

Michelle Tschumi became the new Head of Start-up Finance / Pioneer at Zürcher Kantonalbank (ZKB) as of January 1.
Judith Albrecht, currently Head of Financial Advisory, will take over as Head of the Lake Zurich Market Area in Private Banking from March 1, 2023. She succeeds Peter Luginbühl, who will end his career with the institute in the fall of 2023 after 25 years and retire. He has been responsible for the market since 2014.

EMEA

Société Générale

Société Générale SA COO and Deputy General Manager Gaëlle Olivier is stepping down from the French bank at the end of 2022. Olivier's resignation comes a little more than a week after SocGen announced that Slawomir Krupa will succeed Frédéric Oudéa as CEO in May 2023.

Saxo Bank

CFO Mette Ingeman Pedersen resigned, with the Denmark-based bank looking for an in-house replacement. Pedersen's departure follows Saxo Bank's announcement that it plans to float via a merger with special purpose acquisition company Disruptive Capital Acquisition Company Ltd. and list its shares on Euronext Amsterdam.

Deutsch Bank APAC

Jin Yee Young, who resigned from her role as the deputy head of Credit Suisse's Asia Pacific wealth management business, was appointed as the Asia Pacific head of the German lender's international private bank. She succeeds Lok Yim, who continuous as CEO Deutsche Bank Hong Kong.

HSBC

HSBC has named Greg Guyett sole chief executive of its investment bank, as co-head Georges Elhedery moves to become its new chief financial officer. Elhedery took over from Ewen Stevenson as group chief financial officer on 1 January. Stevenson will leave HSBC in April.

Contact

Dr. Matthias Oberholzer
Russell Reynolds Associates
Stampfenbachstrasse 5 8001 Zurich
Switzerland
Tel: +41-44-447-30-30
Direct: +41-44-447-30-34
Mobile: +41-79-473-72-68
matthias.oberholzer@russellreynolds.com

Dr. Corrado Menghini
Russell Reynolds Associates
Stampfenbachstrasse 5 8001 Zurich
Switzerland
Tel: +41-44-447-30-30
Direct: +41-44-447-30-33
Mobile: +41-79-261-92-42
corrado.menghini@russellreynolds.com