The Swiss wealth manager is hiring a former Goldman Sachs banker to run its business with Britain's wealthy.
Geneva-based Pictet is appointing Robert Suss as the chief executive of its U.K. wealth management arm, effective September 6, it said in a statement on Tuesday. Suss replaces Heinrich Adami, a 24-year veteran of the Swiss private bank who is retiring.
The duo will work together until year-end, when Adami retires. Suss will report to Sven Holstenson, who oversees Pictet's private wealth management business in Europe. Adami is one of 42 equity partners in Pictet.
Partnership Changes
Suss spent more than 18 years at Goldman Sachs, where most recently he was head of the U.S. bank's London wealth management activities. He left in 2015 and is the co-founder of a U.K-based developer and owner-operator of renewable energy assets and infrastructure.
Two weeks ago, Pictet disclosed that Boris Collardi, the Pictet partner who together with Marc Pictet is responsible for wealth management, is leaving at the end of August. The 216-year-old firm is appointing its first female partner – Elif Aktuğ – as well as François Pictet, effective September 1.
