Julius Baer said it has hired a prominent Credit Suisse banker for the Iberian region, France and Belgium.
The private bank said Carlos Recoder begins today as head of the Iberian region's international business, reporting to top Baer executive Remy Bersier.
Recoder is a veteran private banker who most recently was head of private banking for Spain, France, Belgium, Portugal and the Netherlands for Credit Suisse, Switzerland's second-largest bank.
Credit Suisse Connections
«With his excellent reputation and large network he will strengthen Julius Baer’s position as a specialised wealth manager and chart the course for further growth in these key European markets,» Bersier, who is responsible for Southern Europe, Middle East and Africa at Julius Baer, said in a statement.
At Baer, Recoder will find numerous former Credit Suisse colleagues including Bersier, CEO Boris Collardi and recent hire Barend Fruithof. While private banking moves are not unheard of, for Credit Suisse the departure comes at a sensitive time, as the bank attempts to restructure its business under CEO Tidjane Thiam.
