Alex Widmer, the chief executive of Swiss private bank Julius Baer, has died unexpectedly at the age of 52, the bank said. Mr Widmer, an exceptionally well-respected member of the wealth management community, died on Wednesday night.

"We have lost a dear friend, a good colleague and a charismatic leader. Our thoughts are with his three children. We will all miss him greatly. Alex very successfully opened up new dimensions for the Private Banking business of Julius Baer. His enormous commitment, his active relationship and close involvement with the clients and his passion for banking will forever serve as a model for us,” Raymond Baer, chairman of Julius Baer, said.

Mr Widmer joined the Julius Baer Group in 2005 as a member of the group executive board and chief executive of private banking. He became the chief executive of Bank Julius Baer in November 2007.

“For colleagues and clients alike, as well as for the financial industry, Alex Widmer was the very epitome of a Swiss private banker,” the statement from the bank said.

The leadership of Julius Baer will be assumed by Hans de Gier, who served as the chief executive of the Julius Baer Group until September 2008 when he stepped down to focus on his function as chairman of GAM.