The former CEO of Julius Baer revealed one of the key reasons for his recent sudden move to rival Pictet. He also addressed speculation that he is preparing to raid his former employer for clients.

Collardi stunned many in both Switzerland and Asia when he decided to walk away from the top job at Julius Baer in November last year. The 43-year-old private banker is now heading to Geneva-based Pictet.

At the private bank, he will become the seventh partner, alongside Nicolas Pictet, Renaud de Planta, Rémy Best, Marc Pictet, Bertrand Demole and Laurent Ramsey. Collardi will co-run the bank's wealth management practice with Best.

«I’ll go from being an employee to an entrepreneur, that had a lot of importance for me,» he said. Collardi spoke to «Reuters» on the fringes of a Swiss industry event, his first appearance since the high-profile exit reported in November.

Friends in High Places

The charismatic 43-year-old is a well-known face in Asia, and Pictet will likely rely on him to better tap into the region's burgeoning wealth. Julius Baer bankers are bracing to go up against their former CEO, regional head Jimmy Lee  said last month.

However, Collardi pledged not to win new clients for Pictet by poaching them from Julius Baer, signaling the wealth market is large enough for both banks to avoid each other, according to Swiss newswire «AWP» (in French). Pictet's footprint in Asia is considerably smaller than that of Julius Baer. The Geneva-based firm manages about $36 billion with offices in Hong Kong, Singapore, Tokyo, Taiwan and Osaka, compared to roughly $65 billion for Baer.

Pictet has room to grow, and Collardi may even call on his high-profile network with the likes of Leonardo DiCaprio for some star power.