Both banks serve the small and connected client segment of international ultra-high net worth individuals.
At Pictet, Collardi will be jointly responsible for the bank’s global wealth management business, alongside Rémy Best, a managing partner who has had sole charge of this division since December 2014.
Nicolas Pictet, senior managing partner of Pictet, said: “We are delighted to be able to appoint as a partner someone of Boris Collardi’s calibre and reputation in the industry, especially at a time when the prospects for wealth and asset management globally have never been more promising, nor more challenging.
“The fact that he is joining us is a powerful endorsement of our commitment to independence, organic growth, and focus on the long term, always in the best interests of our clients.”
Bernhard Hodler, currently chief risk officer of Julius Baer, was named deputy chief executive in September 2017 and will replace Collardi as chief executive at Baer, with immediate effect.
“Julius Baer is in excellent shape,” said Daniel Sauter, chairman of the gourp. “We would like to thank Boris Collardi for his outstanding contribution and stewardship of the group over almost nine years.
“While we regret losing him, we respect his personal desire for a change and wish him all the very best for his future.”
Baer said it will also now evaluate the long-term leadership of the business.