The wealth manager is poaching a veteran Swiss private banker from rival Lombard Odier. The move follows the promotion of Julius Baer's man for Zurich's super-rich to a bigger job.
Zurich-based Julius Baer is hiring Lombard Odier banker Felix Oeschger as its head of Zurich, from January, it said in an emailed statement on Monday. Oeschger replaces Andreas Feller, who will oversee Julius Baer's business with the wealthy in German-speaking Switzerland.
The move comes amid a management slim-down at Julius Baer under new boss Philipp Rickenbacher, as finews.com reported three weeks ago. The CEO would like a «do more with less» idea to seep through Julius Baer’s ranks. The bank is nearing the end of a grueling two-year review of each client under a $90 million deep scan of its clients.
Swiss Growth Push
Oeschger is currently head of Swiss clients in Lombard Odier's Zurich office. He previously worked for Credit Suisse's private bank, also in Zurich. Julius Baer has long grappled with its domestic market, and recently subsumed it into the wider European operation under Yves Robert-Charrue, as finews.com reported.
«I am convinced that, with the new structure and the substantial recruitment of new staff, we are very well positioned to offer our clients excellent service in our important home market of Switzerland and also to continue to grow,» Robert-Charrue said. The executive recently took over the unit from veteran Gian Rossi, who is leaving Julius Baer at year-end.
