The Swiss private bank is turning the tables on rival Pictet by poaching from the Genevan wealth manager for its growing Luxembourg activities.
Zurich-based Julius Baer is hiring Jeff Mouton as its head of independent asset manager business in Luxembourg, effective June 1, the Swiss bank said in a statement on Tuesday. Mouton is to replace Denny Pole, who is returning to Switzerland to take up a similar role for emerging markets.
The move is a reversal of copious poaching by Pictet, which last week nabbed a prominent Asia private banker from Julius Baer. The move followed a raid of 18 Julius Baer bankers last year, and a team of Latin America bankers earlier this year.
An 18-year veteran of Pictet, Mouton is currently head of independent asset managers at the Swiss bank. He previously worked for the Luxembourg Stock Exchange and for UBS' fund arm. At Julius Baer, he will report to Marcel Suhner, who runs the bank's intermediaries business in Europe.
