Julius Baer is reshuffling its top-management and appointed an experienced banker that spent several years in Singapore to its executive board.

Effective 1 July 2019, Peter Gerlach, Julius Baer’s long-standing head of the markets division, has decided to step down from his current role in order to focus on the development of new wealth management business models for the group, the bank said in a statement on Wednesday.

Luigi Vignola, currently global head structured products, has been appointed to succeed him as head markets and as a member of the executive board of Bank Julius Baer.

Vignola joined the bank’s structured products area in 2009. In 2012 he moved to Singapore to lead the Asian products teams as head markets and advisory solutions. In 2017 he was appointed global head structured products and relocated back to Switzerland.