A former Julius Baer brand manager is moving up to take the helm as head of marketing for the Zurich-based private bank. He also brings extensive automotive industry experience.

Marco Parroni is moving up from being head of global brand partnerships & sponsoring to chief marketing officer of the bank. In his new role, he will be responsible for activities in the private bank's various marketing areas, according to a statement Thursday. He will work closely with regional marketing teams with decentralized marketing functions.

Parroni joined Julius Baer in 2013 after a successful 25-year career in the automotive industry with Ferrari and Fiat Chrysler, among others. He was instrumental in building the private bank's sponsorship portfolio and initiated a portfolio of global brand partnerships focused on innovation and progress.

Regulated Succession

Parroni will be succeeded as head of global brand partnerships & sponsoring by Antje Hembd. Since joining Julius Baer in 2016, Hembd has been responsible for the successful development of several global sponsorship platforms, including Formula E and the Champions Chess Tour.

Julius Baer was one of the first investors to enter the Formula E racing series.