Beleaguered Bank am Bellevue is replacing its Chief Executive and beefing up its board and business with prominent alumni from Switzerland's Rothschild Bank.
Bank am Bellevue said it has hired Thomas Pixner as its new Chief Executive. Pixner, who is in top management at Rothschild's private bank in Switzerland, joins in February.
«With his many years of experience and valued competency, Thomas Pixner will be instrumental in guiding the bank through its next stage of development and accelerating the ongoing extension of our services», Bellevue CEO André Rueegg said in a statement.
The bank is in the process of shutting its brokerage and corporate finance business, which means cutting 25 jobs. Instead, Bellevue wants to focus on wealth and asset management.
Prominent Rothschild Hires
The group also said it will propose former Rothschild bossVeit de Maddalena as a board member. Maddalena had stepped down at Rothschild last summer, but remained on to look after key clients as an executive vice-chairman.
«His extensive knowledge of the international wealth management business will be of great benefit in strengthening Bellevue Group's new strategic profile,» the bank said.
Thomas Blum, another Rothschild Zurich alum, will join Bellevue's wealth management team as a senior client advisor.
