Collardi will become the seventh partner at Pictet and assume the role from mid-2018.
He will be in charge of the firm’s wealth management business, jointly with Rémy Best, managing partner. The division has been Best’s sole responsibility since December 2014.
Collardi has been CEO of Julius Baer Group since October 2009. He joined the bank as its chief operating officer at the beginning of 2006.
Nicolas Pictet, senior managing partner at Pictet said Collardi’s appointment will help drive the firm’s long-term growth.
Following Collardi’s resignation, Julius Baer appointed Bernhard Hodler as the temporary chief executive, with immediate effect, until a permanent replacement can been found. Hodler was the chief risk officer of the group. He took up the role of deputy to the CEO in September.
Pictet had assets under management or custody of CHF492bn ($502.14bn) at the end of September. Julius Baer had assets under management of CHF393bn ($401.10bn) at the end of October.
