A private bank controlled by the wealthy Buehrle and Anda families is reshuffling its top management. The bank also has hiring to expand its business.
IHAG Privatbank's new Chief Executive Daniel Lipp is reorganizing his top management, the bank said in a statement on Friday. The Zurich-based private bank has hired Marcel Joerger (pictured, left) as its investment chief as well as Manuel Baechi as operating head. Top executive Thomas Kistler will step down from top management at his own request, but continue to work for the bank as a senior private banker.
Joerger was poached from St. Galler Kantonalbank, where he was in charge of asset management. Baechi worked for Credit Suisse and Clariden Leu before joining IHAG, which manages less than 5 billion Swiss francs ($5.03 billion).
CEO Lipp will oversee private banking while Peter Rueegg, who has been in IHAG's top management for 20 years, will take over key clients und institutional business. Lipp said the bank plans hire private bankers in coming months, particularly to target the bank's traditional stronghold between Zurich, Stuttgart and Vienna.
