The CEO of the private bank for the past nine years is moving on.
Michel Longhini, chief executive for the private banking arm of Union Bancaire Priveé since 2010, is leaving the Geneva-based firm, this publication can confirm.
A familiar face in the Swiss private banking world, Longhini won the prize of leading individual banker at this publication’s annual WealthBriefing Swiss Awards earlier this year.
His tenure at UBP coincided with the firm’s purchase of assets from Coutts’ international business in Asia and Switzerland, bolstering the bank’s assets under management. That acquisition was completed in 2016. As at the end of last year, the firm had SFr126.8 billion of assets, making it one of Switzerland’s largest banks. In 2013 it also bought the international private banking arm of UK-listed Lloyds Banking Group.
Before taking on the UBP job, Longhini was head of Wealth Management International at BNP Paribas.
During the transition period, UBP’s group CEO, Guy de Picciotto, will take over the management of private banking.
“His [de Picciotto’s] priority will be to define a new governance structure for UBP’s Private Banking division, whose strong and experienced management team has been instrumental in leading the group to where it is today,” the bank told this publication in an emailed statement.
"Over the last 10 years, UBP has doubled its asset base and strengthened its footprint worldwide through successful acquisitions and organic growth. UBP regrets Michel Longhini’s decision and is grateful for all the work he has undertaken. His commitment and his contribution to the Bank’s strategy and growth have been outstanding," it added.