People Moves
Pictet Confirms Wealth CEO Departure, Rebuts Collardi Arrival As Factor

The firm has confirmed the departure of its CEO, but has stated he will stay on at several of the group's board of directors.
Pictet Wealth
Management has confirmed that its chief executive, Christian
Gellerstad, will leave his role in September. However, it has
stressed that the departure of Gellerstad was not caused by the
arrival of Boris Collardi, as reported in the media.
A finews.com report of 13 June, said: “The
move is the first since ex-Julius Baer CEO Boris Collardi started
as a partner of the Swiss private bank”. The firm has stated that
Gellerstad’s decision to leave the role as CEO took place before
the arrival of Collardi.
Gellerstad will continue to chair the board of directors of
Pictet Bank & Trust in the Bahamas, as well as sitting on the
boards of Pictet & Cie (Europe) in Luxembourg and Bank Pictet
(Asia) in Singapore.
In 2019, subject to the approval of the relevant authorities,
Gellerstad should also become a member of the board of directors
of the group’s Swiss bank, Banque Pictet & Cie SA, in
Geneva. He would then be the only director to sit on the
boards of all four of the group’s banks.
He will not continue to sit in the group’s Swiss bank executive
committee, once he has left the role of CEO.
This publication
reported in November that the firm had hired Collardi as a
managing partner.