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						Boris Collardi
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Boris Collardi

QUICK FACTS
Date of Birth July 17, 1974
Age 48 years, 8 months, 25 days
Place of Birth
Country Switzerland
Profession Manager
Horoscope Cancer

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Boris Collardi is a famous Manager, born on July 17, 1974 in Switzerland. As of January 9, 2023, Boris Collardi’s net worth is $5 Million.

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Biography

Boris Francesco Jean Collardi (born July 17, 1974) is a Swiss-Italian bank manager. Having joined the Zurich based Julius Baer Private Bank as COO in 2006, he was the CEO from May 2009 until his widely unexpected resignation in November 2017. In June 2018, Collardi joined the Geneva-based Pictet Group as partner..

Boris Collardi grew up in Nyon, where he obtained an accounting major from the Cessouest School in 1993. Subsequently, he joined the Career Start Program at Credit Suisse in Geneva. From 1995 until 2006 he was active in various functions at Credit Suisse. Commencing as an Analyst in the Investment Research Group in Zurich, he worked his way through the ranks, including two stints in Singapore, before taking the role of private banking CFO in 2003 and becoming private banking COO of EMENA and Head of Special Projects in 2004.

Ethnicity, religion & political views

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In 2006, Collardi joined the Julius Baer Bank as COO following its acquisition of three private banks and GAM, a Swiss asset management company, in 2005. The publication “Global Custodian” credits him as a decisive factor behind the successful integration of these banks and the subsequent establishment of Julius Baer as “one of the premier addresses in global wealth management”. In 2008, he topped the Wealth Bulletin top-40 list of rising stars under the age of 40 among over 300 contenders. Only one year later, following the tragic passing of Bank Julius Baer & Co. Ltd and Julius Baer Holdings Ltd. CEO Alex Widmer, Collardi was chosen to succeed interim CEO Johannes de Gier, in the process becoming the bank’s youngest-ever chief executive.

Boris Collardi Net Worth

Boris Collardi is one of the richest Manager & listed on most popular Manager. According to our analysis, Wikipedia, Forbes & Business Insider, Boris Collardi's net worth $5 Million.

Net Worth $5 Million
Salary Under Review
Source of Income Manager
Cars Not Available
House Living in own house.

In 2006, Collardi joined the Julius Baer Bank as COO following its acquisition of three private banks and GAM, a Swiss asset management company, in 2005. The publication “Global Custodian” credits him as a decisive factor behind the successful integration of these banks and the subsequent establishment of Julius Baer as “one of the premier addresses in global wealth management”. In 2008, he topped the Wealth Bulletin top-40 list of rising stars under the age of 40 among over 300 contenders. Only one year later, following the tragic passing of Bank Julius Baer & Co. Ltd and Julius Baer Holdings Ltd. CEO Alex Widmer, Collardi was chosen to succeed interim CEO Johannes de Gier, in the process becoming the bank’s youngest-ever chief executive.

Boris Collardi became CEO of Julius Baer during a time when the Swiss banking industry was facing significant challenges. The United States Department of Justice had begun investigating long-standing practices among Swiss banks with regards to how it treats foreign client assets. Julius Baer had voluntarily approached the DoJ regarding its past practices in 2009, something the Swiss Financial Market Supervisory Authority (FINMA) had advocated against, as it was looking for a universal solution for banks and raised concerns the bank may otherwise violate Swiss banking secrecy laws. Such an agreement was reached in 2013. Julius Baer signed a deferred prosecution agreement with the DoJ in 2016, in which the bank agrees to pay 547.25 million USD in compensation, which were booked in the bank’s 2015 financial results, acknowledges its practice of helping US citizens evade taxes by setting up undeclared accounts, but in exchange will not be prosecuted. This penalty was lower than what rivals UBS and Credit Suisse paid and, as opposed to the latter, did not include an admission to a criminal charge. Acting Assistant Attorney General Caroline Ciraolo commented that while this agreement made it clear that there is a heavy price to be paid for misconduct, there is significant benefit in fully cooperating. In 2016, Collardi announced he anticipates further consolidation in the finance sector as a result of both the settlements reached with US authorities and increased regulatory pressure going forward resulting in increased costs.

While the bank was generally considered to be in good shape by the company chairman Daniel Sauter, analysts as well as media outlets, his strong leadership position in the bank and the abrupt departure were considered risk factors towards the market valuation and mid-term success of the bank. Key shareholder Harris Associates also expressed their disappointment. Shares opened down 4.2% following the news. The news, while unexpected, should not have come as a complete surprise according to sources within the industry, as Collardi was known for his drive and affinity towards challenges and had largely implemented his vision for Julius Baer since taking over the realms in 2009. He was quoted in 2014 saying, “When you have a challenging environment, you can win on strategy and execution. If you have the right idea, deploy the right resources, and see the opportunity before someone else, you can really make a difference.”

Boris Collardi Girlfriend

According to our records, Boris Collardi is possibily single & has not been previously engaged. As of January 12, 2023, Boris Collardi’s is not dating anyone.

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At Pictet, Collardi has assumed the role of partner alongside Nicolas Pictet, Renaud de Planta, Rémy Best, with whom he is running the bank’s global wealth management business, Marc Pictet, Bertrand Demole and Laurent Ramsey. He is the first outsider to join in almost 20 years and one of only 42 to ever hold such as position. Despite the company’s smaller size, though the 492 billion Swiss francs in AUM are greater than at his former employer, Collardi stressed his desire to be more of an entrepreneur than employee as a key factor in his decision to take on the role. Due to Pictet’s legal structure, Collard’s new compensation plan will likely never be released to the public, but his departure from Julius Baer did result in a considerable compensation cut including not receiving a bonus for 2017 and leaving behind over 7 million francs worth of unvested stock awards.

Height, Weight & Body Measurements

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Facts & Trivia

Ranked on the list of most popular Manager. Also ranked in the elit list of famous celebrity born in Switzerland. Boris Collardi celebrates birthday on July 17 of every year.

While the investigations into Swiss tax practices were a setback for the industry, Collardi maintained Swiss banking had significantly more to offer than tax avoidance or evasion. During a 2010 offshore banking conference in Zurich, he commented: “Switzerland currently manages around a third of the world’s USD 7 trillion worth of offshore money. I believe around 40 percent of these assets currently under management in Switzerland are here for secrecy reasons but only around eight or 10 percent of that amount is here purely for tax avoidance and greater transparency will see this all but vanish. However, the levels of service and safeguard of assets that the Swiss banking system provides will enable it to continue its role as a safe haven for incoming funds.” Part of his strategy for Julius Baer’s expansion was to increase the percentage of mandated assets under management, meaning the bank makes decisions on behalf of the client on the basis of general criteria such as expected returns, acceptable volatility, market segments, ethical considerations and more. Mandated AUM increased from 30% in 2015 to 45% in early 2017, with the ultimate goal of reaching 100%. Another element was the implementation of new advisory levels based on tiers, the aim of which was to both increase the consistency and quality of the advice given to clients as well as stabilize the revenue streams for the bank amid stricter regulations on fees and retrocessions and an increasingly competitive market putting pressure on margins. Similar steps were taken at competitor UBS. Talking to CNBC Asia in 2013, Collardi said: “I personally think that given a choice even in this new business model, clients will continue to favor Switzerland over other financial centers.”

On November 27, 2017, Julius Baer announced the resignation of its CEO Boris Collardi, effective immediately, due to his decision to take on a new position as partner of The Pictet Group, a direct competitor. Chief Risk Officer Bernhard Hodler assumed the CEO position, with the bank announcing an evaluation process addressing the long-term leadership of the group. In September 2017, Bernhard Hodler was announced to be replaced as Chief Risk Officer by Oliver Bartholet, coming from UBS, effective April 1, 2018, with Hodler becoming deputy to the CEO. There was speculation at the time as to Hodler being the intended successor to Chairman of the Board Daniel Sauter, who would be hitting the 12-year term limit in 2019. At the annual shareholder meeting in April 2018, Chairman Sauter announced Hodler was appointed to guide the bank in the long run and not as an interim solution.

Finally, he proposes the establishment of a ‘lighthouse’ institution for training and education in the financial sector, similar to what the world renowned Ecole hôtelière de Lausanne does for the hospitality trade.

He emphasises the importance of refraining from the so-called ‘Swiss finish’, meaning not going beyond international standards and thereby putting the Swiss financial centre at a disadvantage. Effort should instead be put into ensuring compliance with the ‘level playing field’ principle by foreign competitors. Of particular relevance is the ‘activation clause’, recently adopted by the Swiss parliament, which was strongly advocated for by the Association of Swiss Asset and Wealth Management Banks. It means information is only handed over to a country if it adheres to the principle of reciprocity and there is an assurance it will be used properly. For context, in 2017, Yves Mirabaud, senior managing partner at the Geneva-based private bank carrying his name, commented that “Data could be sold or used to put pressure on clients or their families,” and that he is specifically referring to countries with uncertain democratic standards or high levels of corruption. Pascal Saint-Amans, the OECD’s tax policy director, acknowledged this argument, but added that if such an ‘activation clause’ was used as an excuse, the offending country will be sanctioned. Nevertheless, critics remained unconvinced, such as Nicholas Shaxson of the Tax Justice Network, an organization that lobbies against tax havens, who called it a “justification for an ocean of fraud.”

You may read full biography about Boris Collardi from Wikipedia.