Julius Baer taps new recruit from SIX for interim collateral lead
27 February 2020 Zurich
Image: Shutterstock
The Swiss Bank Julius Baer has taken steps to maintain continuity in its collateral business by naming an interim manager of its collateral business following the resignation of Jong Frochaux this week.
Jong Frochaux revealed his intention to step down from his role as the bank's head of collateral trading and collateral management after less than a year in the role.
It is understood that Frochaux's last day has not yet been defined, but he has vacated all duties and responsibilities other than to ensure a smooth handover.
He took over responsibility for the bank’s collateral business
in May 2019 from Roland Schoch who also resigned.
For the interim, it is understood that Frochaux’s management duties will be taken on by Giancarlo Novello, who joined the bank from SIX last month.
Novello, who had been at SIX since 2015, has spent the past year as its head of sales and relationship management, securities finance.
Prior to Julius Baer, Frochaux was with Bank Vontobel Investment Banking. Before that, he served at AXA Investment Managers in London, Singapore and Hong Kong. He also brings experience from his roles with UBS Switzerland.
Julius Baer declined to comment.
Jong Frochaux revealed his intention to step down from his role as the bank's head of collateral trading and collateral management after less than a year in the role.
It is understood that Frochaux's last day has not yet been defined, but he has vacated all duties and responsibilities other than to ensure a smooth handover.
He took over responsibility for the bank’s collateral business
in May 2019 from Roland Schoch who also resigned.
For the interim, it is understood that Frochaux’s management duties will be taken on by Giancarlo Novello, who joined the bank from SIX last month.
Novello, who had been at SIX since 2015, has spent the past year as its head of sales and relationship management, securities finance.
Prior to Julius Baer, Frochaux was with Bank Vontobel Investment Banking. Before that, he served at AXA Investment Managers in London, Singapore and Hong Kong. He also brings experience from his roles with UBS Switzerland.
Julius Baer declined to comment.
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