Geneva Swiss Bank’s head of asset management and CIO, Loïc Schmid, has left the company to join the multi-family office 1875 Finance.
Schmid will take on the same positions at 1875 Finance from 1 September 2017, replacing Edouard Crestin-Billet, who has left the firm.
However, a spokesperson for 1875 Finance confirmed to Citywire Switzerland that Crestin-Billet will continue to work with the group as an external consultant. He has worked at the group since 2013 and set up the institutional asset management arm of the business.
In his place, Schmid joins the group from GS Bank, where he spent just under two years. Schmid previously held the position of CIO and head of asset management at the independent asset manager Sequoia AM.
Commenting on the hire, Paul Kohler, managing partner at 1875 Finance, said: ‘Faced with a constantly evolving legal and regulatory environment, which has been marked by the fluctuations in financial markets, Loïc’s role will be to deliver a fiscally optimised performance for our clients.
‘As well as the investment strategy, Loïc Schmid will implement, with the 1875 FINANCE team, fintech solutions that will allow the company to better serve its clients and effectively respond to regulatory constraints.’