A reshuffle of business units at Julius Baer has led to the resignation of the bank's head of global custody.

Barend Fruithof, also the firm’s country head for Switzerland, is leaving due to “differing views” on a new regional set-up.

An official statement added that he will depart following a “smooth handover”.

The bank’s new set-up consists of the five regions Switzerland, Europe, emerging markets, Latin America and Asia Pacific.

Switzerland will now be led by Gian A. Rossi, currently head of Julius Baer’s Northern, Central and Eastern European operations.

The Europe division will be run by Yves Robert-Charrue. Rémy A. Bersier will head up emerging markets from Dubai.

The intermediaries business will be allocated to the new regional set-up and largely based in Switzerland, which houses the global custody business as well.

Meanwhile Philipp Rickenbacher has been appointed as new head advisory solutions and Nic Dreckmann as new chief operating officer of the Bank.

"The alignment of the front organisation will enable a period of very strong growth of our group,” said chief executive Boris F.J. Collardi.

“The changes, which are beneficial for our clients and ease the set-up of our regional structure, are a further step to confirming our position as the leading Swiss private banking group."