Providing guidance in extraordinary times

While profits at the Julius Baer group have been falling – down by almost half in the first six months of 2009 to SFr219m (E143m) – they have fallen less than the army of analysts following the Swiss banking sector expected. The bank, Switzerland’s second largest after UBS and Credit Suisse, recently separated its wealth and asset management franchises, now to be listed individually on the Swiss exchange. The figures who have attracted most coverage are Boris Collardi, the young and charismatic private banking boss and protégé of recently deceased veteran chief Alex Widmer; and the enigmatic leader of the funds house, David Solo. But the bank’s recently appointed chief investment officer, Indian-born Dr V Anantha-Nageswaran (known as Dr Van to his colleagues and clients), is taking an increasingly important role in providing asset allocation guidance for the funds which are flowing out of some rivals into Julius Baer’s coffers. His experience working for Julius Baer in Singapore, as well as the bank’s two main rivals in Zurich, and running a hedge fund in between, should stand him in good stead for the challenge ahead.