Bank Julius Baer, a Switzerland-based financial group, has appointed Peter Schaer as the new CEO of Julius Baer (Middle East) in Dubai. His appointment is effective from April 1, 2010. Mr Schaer will succeed Rolf Schaerer, who is stepping down but will remain in Dubai to focus fully on his role as head of Indian sub-continent.
Prior to joining Julius Baer, Mr Schaer was head of wealth management at UBS in Dubai for six years. He brings with him over 24 years of experience in the banking sector and an in-depth knowledge of business in the Middle East.
The existing team in Dubai will be further strengthened by the appointment of four new relationship managers, Raymond Cheaib, Faisal Siraj, Ali Sandila and Ahmed Tahir Butt, who will join Julius Baer (Middle East) in January 2010.
Thomas Meier, CEO of Julius Baer in Middle East, Asia and Eastern Europe, said: “I would like to thank Rolf Schaerer for his significant contribution to the successful establishment of our business in Dubai. His new dedicated role focusing on the Indian Subcontinent reflects our commitment to this key region in Asia – our second home market.”
“Mr Schaer and his team have considerable expertise in private banking, outstanding track records and strong ties to the Middle East. I am convinced that they will be able to successfully drive the further development of our activities in this key market.”
