Boris Collardi

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Boris Collardi (2010)

Boris Francesco Jean Collardi (born July 17, 1974 ; resident in Movelier ) is a Swiss - Italian bank manager . He has been a partner and co-head of the wealth management business of the Geneva-based Pictet Group since June 1, 2017 and until the end of August 2021, and was previously Chief Executive Officer (CEO) of Bank Julius Baer for nine years .

Training and beginning of career

Collardi grew up with a family of four in Nyon , where he also graduated from the Cessouest School with a degree in economics. He then completed a Career Start program at Credit Suisse in Geneva between 1993 and 1994 , which his father had drawn attention to and which resulted in him not studying after graduating from high school . In 1995 he moved to Zurich for the Credit Suisse Investment Research Group, where he worked as an analyst in the Quantitative Models & Tools department. The following year he switched to Credit Suisse Private Banking in the Francophone Market Group. In 1996 and 1997 he worked in front office support for French-speaking countries. At the beginning of 1998 he moved to Singapore , where he became Head of Front Office Support Asia-Pacific. In 2000 he returned to Switzerland and was Executive Assistant to the CEO of Credit Suisse Private Banking, Oswald Grübel .

He then returned to Singapore to work as Project Director “Global Private Banking Center” until 2002. His task was to set up a global booking and service platform with the most modern technical infrastructures. From mid-2002 to 2003 he worked for Credit Suisse Private Banking Europe as Head of Business Development, Member of the Executive Committee and Chairman of the European Private Banking Advisory Board. In 2003 and 2004 he was CEO and Head of Corporate Center and Member of the Executive Board of Credit Suisse Private Banking in Zurich. From 2004 to mid-2005 he worked for Credit Suisse Private Banking in London and Zurich as Head of Special Projects, then as COO Eastern Europe, Middle East & Northern Africa , and as a member of the Private Banking Europe Management Committee.

Work for Julius Baer

In 2006 the transfer to Bank Julius Baer & Co. Ltd took place . From 2006 to 2009 he was Chief Operating Officer and thus responsible for the integration of three private banks that Julius Baer had taken over from the major Swiss bank UBS , as well as for the product platform for Julius Baer's assets and the global asset management organization Assets of over CHF 70 billion. In addition, from 2008 to 2009 he was COO of the Investors Solutions Group. Even then, the industry magazine “Wealth Bulletin” put him on the list of the “40 Rising Stars in European Wealth Management”. In 2009 he looked back on his early career, saying that he was "lucky enough to work with the best in the industry, with Ossi Grübel , Alex Widmer , Hans de Gier".

CEO of Julius Baer

In May 2009, after the death of CEO Alex W. Widmer , Collardi became CEO of Bank Julius Baer & Co. AG at the age of 34 - never before has a CEO of an SMI company been younger - and in October 2009 Chief Executive Officer the Julius Baer group AG . The appointment of the young Collardi as head of a traditional Swiss bank sparked huge media coverage. His age has been a central issue in many reports.

Milestones as CEO of Julius Baer

When he took up his position as CEO of Bank Julius Baer , the bank went through a very intensive phase of restructuring and expansion. First, under the leadership of Collardi, the asset management business and the private banking business were separated. The separation took place by the fact that Julius Baer was listed separately on the stock exchange , while the previously listed shares remained listed on the stock exchange under the name GAM . This increased the room for maneuver for Julius Baer and its CEO, Collardi, who subsequently made a number of acquisitions, increasing the value of the bank and expanding its earnings momentum.

The declared intention was to make Julius Baer a so-called “pure player” in private banking. That was rewarded by the market. As early as 2010, Julius Baer was recognized by the publications “Professional Wealth Management” and “The Banker” as the best private bank in Switzerland and for the best growth strategy in private banking.

Collardi also pushed for changes in regulatory matters. In April 2011, the bank paid the Münster public prosecutor's office EUR 50 million and thus obtained the suspension of proceedings against the bank and its employees - which, according to media reports, bore the “handwriting of the pragmatic, young CEO Boris Collardi”.

Acquisition of Merrill Lynch

Shortly after taking office, Julius Baer took over the Swiss branch of the Dutch all-finance group ING for CHF 520 million and increased the assets under management by 10% to CHF 160 billion. By far the most important acquisition was that of Merrill Lynch's international business in the year 2012. Julius Baer took over assets of around CHF 60 billion and paid around CHF 720 million for them. The acquisition was the largest of its kind in private banking in the last ten years, was considered extremely difficult in view of the complexity, and in Media reports questioned whether this acquisition could be a success for Julius Baer and Collardi. Publications made the personal commitment of Collardi responsible for ensuring that the takeover was carried out on time. According to the same sources, he knew how to win over and inspire the most important customer advisors for the project.

growth

Bank Julius Baer managed assets

The acquisition of Merrill Lynch and other banks (GPS Brazil, NSC Asesores in Mexico, Leumi Switzerland, Commerzbank Luxembourg) as well as organic growth ensured that assets under management rose from CHF 154 to 388 billion between 2009 and 2017.

In 2005, 82% of assets under management came from clients domiciled in established markets. Only 18% of customer money came from new markets . This picture changed dramatically by 2017: Only 51% of the funds come from established markets, 49% from new markets.

The development of net new money is also clear. Between 2009 and 2017, net new money totaled CHF 100.1 billion, which corresponds to an average annual growth in new money of CHF 11.1 billion. In the same phase, net profit rose by an average of 566 million francs and by a total of 5.09 billion francs. During this period, the dividend rose from 0.40 francs to 1.40 francs; thus a total of 1.718 billion Swiss francs was distributed to the shareholders. The total number of employees and customer advisors rose between 2009 and 2017 from 3,078 to 6,205 and from 667 to 1,381, respectively.

Asia as the second home market

Shortly after taking office, Collardi stated in media interviews that Asia should be Julius Baer's second home market. Under his leadership, Julius Baer succeeded in significantly expanding its presence in the Asian growth market. Here, organic growth was in the foreground right from the start. Today the bank is also one of the leading institutions in Asia. The presence in Asia also plays an important role in the further development and modernization of Julius Baer's IT infrastructure, which Collardi is driving forward. Julius Baer has invested several hundred million francs in modernizing its technology around the world since 2009. By 2020, all booking centers will operate on the same platform, and Julius Baer will be fully digitized. Asia is already live today without any problems, Luxembourg, an important booking center is also on the new platform.

change

Collardi took over the management of Bank Julius Baer during a phase in which Swiss banking secrecy fell and said: "We have to work harder for our money in the next few years."

Collardi was and is also concerned with the Swiss militia system , which means the non-professional involvement of Swiss citizens in the military and civil society. Employees who work for the common good in a political or other way are supported in these activities.

Julius Baer's broad commitment is also reflected in sponsorship. Thanks to his relationships, Collardi also played a decisive role in ensuring that Julius Baer - after supporting the establishment - became a main sponsor and core investor of the FIA Formula E Championship and that the Zurich E-Prix 2018 was held on June 10, 2018 .

Financial center

During his time as CEO of Julius Baer, Collardi was not only committed to the further development of Julius Baer, ​​but also to the entire financial center - indirectly and directly: his corporate and growth strategy for the institute ensured that Julius Baer was expanded and further developed - with the result that the institute is today an essential and important pillar of the entire Swiss financial center . He saw the departure from banking secrecy pragmatically and was convinced that outflows of funds could be compensated by inflows of new money. He appealed to customers to declare any untaxed assets. And he was told that he stood out “in the general tribulation in the banking industry” with “fresh courage to grow”.

Collardi was directly involved in the Swiss Bankers Association in a phase that was very important for the industry and, as President, made a significant contribution to the further development of the Association of Swiss Asset Management and Private Banks for over six years. The association is firmly established today and ensures that the voice of this important industry is heard in politics and the public. The highlight of the annual program is the Private Banking Day, which has been established in 2016 and is organized and carried out together with the Association of Swiss Private Banks. In the summer of 2016, there was speculation in the media that Collardi would become president of the Swiss Bankers Association . At the same time there were rumors that he would become a partner in the Geneva-based private bank Lombard Odier .

resignation

On November 27, 2017, Collardi surprisingly announced his resignation as CEO of Julius Baer in order to work as a partner for the Geneva-based private bank Pictet from June 1, 2018 . As President of the Association of Swiss Asset Management and Asset Management Banks, he resigned at the Association's General Assembly on May 25, 2018 in Lugano ( Canton Ticino ).

Criticism and money laundering scandal

Since 2020, Collardi has been criticized for possible money laundering and examination by the financial market supervisory authority . There have been several criminal charges and media reports that he has become a liability for Pictet. In August 2021, Pictet announced his resignation as of September 1.

Private

Collardi lives in Schindellegi in the municipality of Feusisberg in the canton of Schwyz and speaks fluent French, Italian, English and German.

Publications

Collardi has summarized his management and leadership principles in the book Private Banking - Building a Culture of Excellence . The work was published in 2012 by John Wiley & Sons .

Awards

In 2012 he was voted “Best Leader in Private Banking” by the Financial Times publication “Professional Wealth Management”. In 2017, the Swiss business magazine Bilanz voted him “Top Banker of the Year”.

literature

Web links

Individual evidence

  1. ↑ a b Erik Nolmans: Julius Baer: The Art of the Blitzkarriere. In: Balance sheet 19/2009. October 23, 2009. Retrieved October 10, 2012 .
  2. ^ Julius Baer Group Ltd. In: Commercial Register of the Canton of Zurich. Archived from the original on December 4, 2015 ; Retrieved May 11, 2011 .
  3. ↑ Ermes Gallarotti: Boris Collardi changes to Pictet. In: Neue Zürcher Zeitung . November 27, 2017. Retrieved November 27, 2017 .
  4. ↑ a b Geneva private bank - Ex-Julius Baer boss Boris Collardi takes his hat at Pictet. In: srf.ch. August 18, 2021, accessed August 18, 2021 .
  5. ^ A b Patrick Müller, Christian Dorer: The Federal Council's hard line is correct. In: Switzerland at the weekend. December 19, 2009. Retrieved June 15, 2018 .
  6. ↑ a b Stefan Barmettler: Power network by Boris Collardi: Spitzkehre. In: Balance . April 9, 2009. Retrieved June 15, 2018 .
  7. ^ Media conference of February 2002
  8. ↑ Boris Collardi's curriculum vitae. (PDF; 24 kB) Julius Baer, accessed on February 1, 2016 .
  9. ^ Julius Baer Holding AG . In: The Wall Street Journal . October 11, 2005.
  10. ↑ Ermes Gallarotti: With passion and speed. In: NZZ Online . July 27, 2009, accessed June 13, 2018 .
  11. ↑ Torsten Riecke: Young star among retirees. In: Handelsblatt . April 1, 2009, accessed June 13, 2018 .
  12. ↑ We look at a lot . In: Supplement "Private Banking" Finanz und Wirtschaft . October 2009.
  13. ↑ Matthias Niklowitz: Opinions differ at the beginning of a new life. In: Handelszeitung . September 30, 2009, accessed June 13, 2018 .
  14. ↑ Bear's Leap . In: The Economist . August 25, 2012.
  15. ↑ Award 1: Best Private Bank and Growth Strategy. In: Finews . October 29, 2010. Retrieved July 26, 2018 .
  16. ↑ Thomas Wyss: At a glance. In: Finance and Economy . April 16, 2011, accessed June 13, 2018 .
  17. ↑ Julius Baer solo on a shopping spree . In: Swiss bank . November 1, 2009.
  18. ↑ Journey to Risk . In: Handelszeitung . August 16, 2012.
  19. ↑ Thomas Wyss: Share buybacks remain an issue for Julius Baer. In: Finance and Economy . October 19, 2012, accessed June 13, 2018 .
  20. ↑ https://www.juliusbaer.com/group/de/financial-information/finanzberichte/
  21. ↑ After the storm is before the storm . In: Handelsblatt . December 29, 2009.
  22. ↑ Strategic buyout expands Swiss bank's Asia profile . In: The Straits Times , Singapore . 11th March 2013.
  23. ^ Julius Baer's CEO aims for Asia profitability . In: Global Capital . February 17, 2011.
  24. ↑ There is little to buy for Julius Baer in Asia . In: Finance and Economy . October 10, 2009.
  25. ↑ Zurich Optimism of Purpose . In: Financial Times Germany . September 3, 2009.
  26. ↑ Frédéric Papp: This is what Julius Baer and LGT hope for from Formula E. In: Finews . May 31, 2018, accessed July 26, 2018 .
  27. ↑ Actually, I should be upset about the account lockouts . In: Sunday newspaper . March 27, 2011.
  28. ↑ The Mixer . In: Balance . 3rd October 2014.
  29. ↑ Switzerland's financial center - which integration model in Europe? / VAV - ABG. Retrieved August 2, 2020 .
  30. ↑ Emmanuel Garessus: “Le modèle suisse gagne des parts de marché”. In: Le Temps (Switzerland) . May 25, 2018. Retrieved July 26, 2018 .
  31. ↑ Money laundering scandal - Boris Collardi, a full-throttle banker on a spin-off course. Retrieved August 2, 2020 .
  32. ^ Another criminal complaint against Boris Collardi. In: Inside Paradeplatz. July 20, 2020, accessed on August 2, 2020 (Swiss Standard German).
  33. ↑ Boris Collardi: Double Risk. June 29, 2020, accessed on August 2, 2020 (German).
  34. ^ The Financial Times Ltd: Private Banking Awards 2012 Gallery. Retrieved August 2, 2020 (UK English).
  35. ↑ Bankers: The 100 Best . In: Balance . October 2017.
personal data
SURNAME Collardi, Boris
ALTERNATIVE NAMES Collardi, Boris Francesco Jean (full name)
SHORT DESCRIPTION Swiss-Italian bank manager
BIRTH DATE 17th July 1974