Saturday, 7th November 2009

 

Julius Baer hires from UBS

Julius Baer, the Swiss private bank, has hired a senior wealth manager to head its Abu Dhabi office from its larger Swiss peer, UBS.

Jean-Marc Suter starts as head of the new office in Abu Dhabi, effective January 1 next year.

He will report to Thomas Meier, chief executive of the Middle East, Asia and Eastern Europe at the bank.

Meier said: "Suter will make a substantial contribution towards further strengthening our position in this important growth region."

At UBS Suter was senior representative at the Abu Dhabi office. Before this he was chief representative at Credit Suisse in Abu Dhabi and Dubai.

He has also held senior positions in wealth management with a focus on the Middle East at Credit Agricole Indosuez.

Brummel

Relocation, relocation, relocation

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”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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