Schroders
With the pending retirement of executive vice chairman and global head of distribution, Massimo Tosato, at the end of 2016, Schroders has announced that his role will be split in two.
John Troiano, currently head of global institutional business, will become global head of distribution; while Richard Mountford, currently head of Asia Pacific, will become global head of product.
Philip Mallinckrodt will assume the role of group head of private assets in addition to his overall responsibilities for wealth management.
Andrew Ross will become global head of wealth management and will continue to report to Mallinckrodt.
Richard Keers, chief financial officer, will take on additional responsibility for certain investment operations.
Tosato will continue in his board positions and other roles at the company until his departure.
Julius Baer
The Swiss private banking group has expanded the remit of head of intermediaries’ Yves Robert-Charrue, on an interim basis, to include its investment solutions group (ISG).
The change was prompted by the departure of Burkhard Varnholt, who is leaving the bank at the end of May to join Credit Suisse as deputy global chief investment officer of its investment solutions and products team.
Yves Henri Bonzon, who joined Julius Baer from Pictet Wealth Management in February, will become ISG’s sole chief investment officer, having shared the role with Varnholt.
Credit Suisse
In addition to the appointment of Julius Baer’s Varnholt, who officially joins in November, Credit Suisse has announced the appointment of Eric Varvel as global head of asset management for the bank’s international wealth management (IWM) division, effective from 1 June.
Based in New York, Varvel has over 25 years’ experience, most recently serving as chairman of Credit Suisse’s emerging markets and sovereign wealth funds and senior adviser to the chief executive.
Axa Investment Managers
Richard Peirson will hand over the running of the Framlington Managed Balanced fund to co-manager Jamie Hooper when he retires from the company in March 2017.
Peirson has managed the fund since he joined the company in 1994, with Hooper appointed co-manager at the end of last year as part of the team’s succession plan.
UBS
Former Commerzbank chief executive Martin Blessing will succeed Lukas Gaehwiler as president personal & corporate banking, president UBS Switzerland, and on the UBS group executive board, effective 1 September 2016.
Gaehwiler, who is stepping down from his roles at his own request, will take on a new strategic role as chairman of the Switzerland region, focusing on clients and other selected mandates.
Fixed Income, Currency and Commodities Markets Standards Board
Mark Yallop has been appointed to chair the UK’s FICC Markets Standards Board (FMSB). An external member of the Prudential Regulation Authority (PRA) and a former investment banker, Yallop will assume his new role in July.
He has been a PRA board member since 2014. Before that he was UK chief executive for UBS, spent six years as chief operating officer of ICAP and held senior positions at Deutsche Bank.
