January 18, 2018 / 11:32 AM / a month ago

Ex-Baer boss says desire to be entrepreneur drove sudden exit

BERN, Jan 18 (Reuters) - Former Julius Baer chief executive Boris Collardi said on Thursday the chance to go from employee to entrepreneur drove his decision to quit his job to become a partner at Geneva-based rival Pictet Group.

“I’ll go from being an employee to an entrepreneur,” Collardi said on Thursday on the sidelines of a private banking event in the Swiss capital.

“That had a lot of importance for me.”

Julius Baer is publicly listed while Pictet is a private partnership.

Collardi had been CEO at Julius Baer since 2009 and he had faced disputes with shareholders over his pay. He has not previously publicly stated a reason for his departure.

Collardi was replaced by Chief Risk Officer Bernhard Hodler, who has agreed to take on the job while the bank evaluates the group’s long term leadership.

Reporting by Angelika Gruber; editing by John Miller and Jane Merriman

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