Clariden Leu shuffles its pack
Clariden Leu’s COO, Roland Hermann, is likely to be managing change for some time as his IT integration has taken place in front of a backdrop of shifting management and structure, as senior figures within the bank depart and the newly merged entity continues to grow through acquisition. The legal merger was completed at the end of January 2007, and two weeks later the bank announced the acquisition of the Asian private banking operations of Standard Bank. In May, it took a minority stake in Nordaktienbank, a Hamburg-based asset manager. The summer of 2007 saw the start of Clariden Leu’s executive reshuffling. At the end of June, Beat Wittmann, CEO investment products, left the bank to join Julius Baer, which is in the process of moving sections of its own investment products and asset management business into its private bank. Martin Klaus, the head of business development in the investment products division, and a 14-year veteran of Bank Leu, stepped into the role, but in August the management changed again. The bank brought together its investment products and private wealth management divisions into a single division, with Hans Nützi, previously CEO of the private banking operations, at the helm. Stefan Krauchi was appointed beneath Mr Nützi as head of investment funds and alternative investment products. Four regional heads – Adrian Nösberger (private banking Switzerland and external asset managers), Adrian Leuenberger (private banking Europe), Rémy de Bruyn (private banking Latin America and senior private bankers) and Roland Knecht (private banking Eastern Europe, Middle East and Asia) – were also appointed, reporting to CEO F. Bernard Stalder from 1 October. In the end, they served under Mr Stalder, for less than two months, as the former Clariden CEO retired for personal reasons. Mr Nützi had to move offices yet again, as he stepped up into the top job effective 15 November. Mr Krauchi, who, again, had only been in his latest job a few weeks, stepped into Mr Nützi’s still-warm shoes on an interim basis. At the time of writing, a permanent successor had not been named, but given the seemingly liquid nature of Clariden Leu’s management, the remaining Dramatis Personae might be forgiven for not unpacking their office supplies just yet.
