Jean-Pierre Pieren, Deputy Chief Executive Officer of Banque Privée Edmond de Rothschild SA, Geneva, has decided to retire after many years devoted to our Bank and Group. He will step down from our Bank's Executive Committee at the end of April 2012.
Mr Pieren's duties as Chief Operating Officer will be taken over by Manuel Leuthold, a Geneva native born in 1959.
Mr Leuthold has had a brilliant career with a large Swiss bank, where he exercised important executive functions including as a member of the national management board of the Wealth Management & Swiss Bank division.
Mr Leuthold will join the Executive Committee of Banque Privée Edmond de Rothschild SA during the first quarter of 2012, and we look forward to welcoming him as Deputy CEO. We also take this opportunity to thank Jean-Pierre Pieren for his long and dedicated service that has greatly contributed to the smooth, successful business development of our Bank and Group.