SWITZERLAND- Julius Baer Group has appointed Veit Scuhen as its new head of asset management and investment funds. Prior to this, Schuhen was managing director at JP Morgan Fleming Asset Management responsible for funds business in Continental Europe, the Middle East and Latin America.

Schuhen’s role has been newly created following the merger of the investment funds business and the institutional asset management division at the beginning of July this year. CEO and president of the Group Executive board, Walter Knabenhans, has been overseeing the asset management division on an ad interim basis.

Prior to the merger of the two divisions, Peter Spinnler headed up the investment funds business line. He will now retire at the end of this year. Leo Schrutt, who managed the institutional asset management division, is now head the asset management international unit.

Schuhen will assume the newly created position with effect from 1 December 2002.

Julius Baer is also to make changes to the board of directors. As decided in spring 2000, chairman of the board, Thomas Baer will retire in May 2003, and will be replaced by Raymond Baer, head of private banking. Michael Baer will head up the private banking division together with Raymond.

The trading business line at Julius Baer will also see a new addition. Antoinette Hunziker-Ebneter is to join the division December this year to become head of trading as from 1 January 2003. Prior to joining Julius Baer, Hunziker-Ebneter was head of the SWX group and the CEO of the British-Swiss exchange Virt-x.