#Julius baer professional

Jorge Luis Arzuaga, a former BJB relationship manager who worked in the Bank’s Montevideo, Uruguay and Zurich, Switzerland offices, pleaded guilty in June 2017 for his role in this conspiracy and was sentenced by Judge Chen to three years’ probation in November 2020. As part of this agreement, the Bank has agreed to pay more than $79 million in penalties (including a fine of $43,320,000 and forfeiture of $36,368,400) to resolve the investigation into its involvement in a money laundering conspiracy that fueled this international soccer bribery scheme. The Bank has entered into a three-year deferred prosecution agreement with the government in connection with a criminal information filed today in the Eastern District of New York charging the Bank with conspiring to commit money laundering. The proceeding was held before United States District Judge Pamela K. These bribes were in furtherance of a scheme in which sports marketing companies bribed soccer officials in exchange for broadcasting rights to soccer matches. (“BJB” or “the Bank”), a Swiss bank with international operations, admitted today in federal court in Brooklyn that it conspired to launder over $36 million in bribes through the United States to soccer officials with the Fédération Internationale de Football Association (FIFA) and other soccer federations. EFG International has a substantial business in the Asian-Pacific market and should receive some valuable impetus thanks to Collardi's equally excellent network of contacts in the region.BROOKLYN, NY – Bank Julius Baer & Co. Secondly, Collardi can now once again take on a task he was entrusted with at Pictet, which is the expansion in Asia. Even so, Finma has not yet given its ultimate stamp of approval. Collardi has apparently passed these, otherwise he would not have been nominated.

To be proposed as a member of a bank's board, intensive preliminary vetting with the supervisory authority is necessary.

#Julius baer professional

Two further aspects are worth mentioning in connection with Collardi's new commitment:įirstly, his nomination to the board of directors has effectively restored his professional integrity following Finma 's investigations. It seems reasonable to conclude that one or more client advisors might well be considering a move to EFG International shortly. But due to his unexpectedly short stint at Pictet, some of the bankers he brought in did not catch on there. Only six months after joining Pictet as a partner, Daniel Savary moved from Julius Baer to the Geneva-based firm with an 18-strong team at the end of 2018. Each time, entire teams changed employers. This was the case when he joined Julius Baer from Credit Suisse, and again when he joined Pictet. Like few other top bankers, the Frenchman is known to have a following very loyal to him which follows him when he changes employers.

His appointment as a member of the board of directors could bring his vast network of contacts into play. And the fact that the bank's CRO business model is very growth-oriented, should play to his strengths. Some were bothered by Collardi having been the focus of investigations by the Swiss Financial Market Supervisory Authority (Finma) due to his previous activities at Julius Baer.Ĭollardi will be able to bring his expertise to bear in his future role as a board member at EFG. This means EFG's clientele is much more heterogeneous than is the case at Pictet, which mainly serves very wealthy individuals and families, some of whom have been clients of the bank for many decades. The bank, founded by the Swiss-Greek Latsis family of shipowners, operates a business model that gives the individual client relationship officers a relatively high degree of entrepreneurial freedom.Įach of its client relation officers (CROs), operates more or less independently, sets his or her own goals, and is correspondingly much more accountable to deliver the appropriate results. As with his stint with Pictet, an entrepreneurial component is involved.īut the parallels end there.

This time, however, Collardi will not take on an operational role but will become a board member of the private bank EFG International, at the same time taking a stake in the bank. After a brief and hapless interlude at Geneva-based private bank Pictet, Collardi is now ready to join another Swiss private bank, it was announced on Friday. But now the prodigal son has returned.Īfter about eight months of radio silence, Swiss rock-star banker Boris Collardi is once again living up to his reputation as a whirlwind in the industry. Without the colorful banker Boris Collardi, the Swiss banking industry was poorer by one controversial figure.