KBL is hiring a British ex-consultant as its new operating chief. The executive spent recent years advising Swiss giant UBS.
The Luxembourg-based private bank is naming Colin Price its operating chief, effective immediately, it said in a statement on Wednesday. The British-born 61-year-old isn't well-known, but long enjoyed the trust of UBS' C-suite including boss Sergio Ermotti and long-time wealth head Juerg Zeltner, who now runs KBL.
Under Zeltner, KBL is seeking a reinvention into a partner-led private bank in the mold of Geneva's Pictet, as finews.com reported exclusively. Switzerland, still the world’s largest offshore market despite its dwindling standing, is emerging as the linchpin in KBL’s plans.
«Skin in the Game»
A former Partner at PwC and McKinsey and head of the consulting arm of Heidrick & Struggles, Price set up his own boutique consultancy five years ago. He lectures at Imperial College London and at Saïd Oxford, the business school of the eponymous university.
Like Zeltner and new KBL wealth head Jakob Stott, Price is taking a what KBL termed a «significant ownership stake» in the wealth manager. Qatar's al-Thani family controls 99.9 percent of KBL; Zeltner told finews.ch (in German) that the bank had found a mechanism to share profits with partners, which now include ex-Credit Suisse star Dagmar Kamber-Borens.
