“Experts warn the safekeeping of client data can never be 100% guaranteed.” -- Tara Loader Wilkinson
Friday, 12th March 2010
Julius Baer, the Swiss private bank, has hired a new head of finance from rival Credit Suisse.
Frank Keller has been named head of finance, reporting to Boris Collardi, chief operating officer at Julius Baer headquartered in Zurich.
He comes from Credit Suisse where he was most recently senior finance officer private banking Asia Pacific, based in Singapore. Prior to that, he was at UBS in Switzerland.
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
Forbes’ 2010 list of the world’s billionaires comprises a record 164 "ten-figure titans" and some familiar names from the world of finance. Spare a thought though for the 12% whose fortunes dipped last year.
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