The Swiss private bank has split the executive's role between its intermediaries head and its remaining co-chief investment officer.

Burkhard Varnholt, head of the investment solutions group and co-chief investment officer at Julius Baer, is leaving the bank at the end of May, handing over to Yves Robert-Charrue as interim ISG head and Yves Bonzon as the sole CIO.

Robert-Charrue, who joined Julius Baer in 2009 and has been member of its executive board since 2010, will take on the new role in addition to his responsibilities as head of intermediaries. He will continue to report to chief executive, Boris Collardi. Robert-Charrue already served as the bank's ISG head from 2010 to 2011.

In January, Bonzon, a former CIO at Pictet, was appointed as co-CIO alongside Varnholt, and head the bank’s new investment management unit, which is responsible for managing discretionary investment solutions. He will retain that role while taking over Varnholt's duties.

Varnholt, who joined Julius Baer in 2014, has integrated environmental, social and governance criteria into the selection of the assets at the bank. He was previously CIO at Bank J Safra Sarasin.

“I am pleased that Yves Robert-Charrue has agreed to assume the leadership of ISG ad interim. At the same time, I sincerely thank Burkhard Varnholt for his valuable contribution in the past years – thanks to his vision, Julius Baer has become a leading private bank with regard to responsible investing. We wish him the best of success for his future endeavours,” said Collardi.

Zurich-headquartered Julius Baer had total client assets of SFr 385 billion ($395 billion) at the end of 2015, including SFr 300 billion of assets under management. CEO Collardi recently said the bank will continue to track acquisition opportunities arising from the ongoing industry consolidation.