SWITZERLAND – Swiss private bank Julius Baer has announced that Roman von Ah, head of asset management for continental Europe, is stepping down as of April 28.

Julius Baer said von Ah, who joined the private bank in 2004, was leaving “to pursue other opportunities”.

“Roman von Ah made many valuable contributions to the asset management business of the group, laying the foundation for future growth,” the bank said.

Von Ah joined Zurich-based Julius Baer at the start of 2004. Prior to that, he was chief investment officer at Swiss pension group Swissca.

Julius Baer also said David Solo, board executive in charge of asset management, would be assuming von Ah’s responsibilities.

Solo joined Julius Baer from hedge fund specialist GAM last December, after the private bank bought GAM and three other wealth management firms for CHF5.6bn (€3.56bn).

Julius Baer currently has CHF182bn (€115.251) in assets under management. The bank also manages another CHF122bn on behalf of private clients. In 2005, it had pre-tax profit of CHF189m in 2005.

GAM, which has $7.8bn in institutional assets, said in January that it planned to bring investment consultants onboard to generate more business in the global institutional market.

GAM’s products consist of “high-alpha" absolute-return-oriented products which complement the more traditional long-only products under the Julius Baer brand.