Julius Baer’s top expert on structured products will replace the head of the markets division, Peter Gerlach. He will stay at the private bank and assume a new role helping to further develop of the company’s business.
Peter Gerlach will hand over responsibility for the markets division of Julius Baer after 14 years at the helm of the business, the bank said in a statement on Wednesday. He will also relinquish his role as a member of the executive board as of July 1.
Julius Baer has entrusted Gerlach with the role of spearheading its efforts to develop new, technology-driven business models, leveraging in-house know-how and external partnerships.
A Major Growth Driver
«Peter Gerlach has been instrumental in leading the technological transformation of our markets division,» said Bernhard Hodler, CEO of Julius Baer, in the statement. «He is therefore the ideal person to work on group-wide pioneering initiatives and projects that will help us to shape the future of wealth management.»
Under the guidance of Gerlach, the markets division became a major contributor to the earnings power of Julius Baer. Last year, net revenues from trading rose 75 percent to about 530 million Swiss francs ($527 million).
Asia Expert
Julius Baer has appointed Luigi Vignola as successor of Gerlach. Vignola is the current head of structured products. He will also take a seat on the executive board, following in the footsteps of Gerlach.
Vignola joined the structured products business in 2009 and moved to Singapore in 2012 to lead the Asian products teams as head markets and advisory solutions. In 2017, Vignola was appointed to his current position and relocated back to Switzerland.
