The new chief risk officer currently holds a senior position with the world's largest wealth manager.

Julius Baer has appointed a new chief risk officer and announced the man who formerly held the position will act as deputy to the private bank's chief executive. 

Oliver Bartholet will succeed Bernhard Hodler as CRO and will join Baer's executive board as part of the move. Hodler will remain on the executive board but going forward will act as deputy to the chief executive, Boris Collardi, supporting strategic projects and leading the bank's credit operation. 

Bartholet is currently head legal group regulatory and governance at UBS, the world's largest wealth manager. He began his banking career in 1995 and had held several senior positions at the Swiss lender.

“With his in-depth knowledge of wealth management and broad-based banking expertise, Oliver Bartholet will be a highly valuable addition to our leadership team, and I am delighted he is joining Julius Baer,” Collardi said.