A team of six Latin America bankers is leaving the Swiss wealth manager, finews.com has learned. It is the first noticeable spillover following the departure of partner Boris Collardi this month.
Latin America chief Marc Braendlin and five relationship managers devoted to the region are on their way out at Pictet, a source told finews.com on Wednesday.
Braendlin was one of a series of high-profile private bankers who followed Boris Collardi from Julius Baer to Pictet two years ago. Collardi’s sudden exit from the latter wealth manager earlier this month sent shockwaves through Switzerland’s wealth management industry.
Regional Reinforcement
A spokesman for Pictet confirmed the exit of six Latin America bankers including Braendlin, who couldn't be reached by finews.com for comment. Pictet said four bankers remain with the Swiss private bank in Zurich and will work closely with the Latin America teams in Geneva as well as Nassau.
Tim Browse will take over as market head of Brazil, and report to Marc Bouchet, who is Pictet's head of Latin America in Switzerland, the bank said. Its commitment to the region remains unwavering, it said, noting it will soon disclose hires in other key Latin American markets such as Mexico.
