Julius Baer is replacing the head of its activities in the Middle East, where it was among the first foreign banks admitted to the Dubai International Finance Center. The current head, who was in the job for just two years, is moving to Abu Dhabi to spur growth in the emirate.
The Swiss private bank said that Régis Burger will take charge of its Middle East business effective immediately if the regulator agrees.
Burger is a close associate of Baer Chief Executive Boris Collardi, having spent nearly three years as a project manager in the CEO office.
He has been based in Geneva as head of business management for southern Europe, the Middle East and Africa for the last three years.
Burger replaces Peter Berger, who moves to Abu Dhabi, after just two years in the Dubai job, in order to foster the Swiss bank's business there.
Collardi's Churn
Incoming Dubai head Burger spent five years in Dubai, including three as Berger's operating chief.
«His appointment shows continuity and demonstrates the importance of our hub in Dubai as growth platform for the emerging markets,» emerging markets head Remy Bersier said in a statement.
Bersier moved to Dubai as part of a reorganization recently revealed by Collardi, who has drawn attention in the past for a frequent churn of staff and management reshuffles which often end in prominent departures.
