The Zurich-based organisation was founded a decade ago by the great-grandson of Julius Baer, creator of the eponymous Swiss private banking business.

Mbear Merchant Bank, founded by Michael Baer (pictured) a scion of the Julius Baer family dynasty, said it is restructuring its management team, taking effect from 1 January.

Annett Viehweg, who was previously the corporate banking head, is taking over as CEO from Baer. She will be focusing on customer work and will be responsible for the firm’s merchant banking arm, according to a statement (originally in German).

Viehweg, who has more than 30 years of experience in the banking and financial market, worked for over 26 years in various management positions at Deutsche Bank and for several years at Sberbank Switzerland.

Hendrik Weber-Grellet will become chief risk officer, also overseeing its compliance work. Irina Buholzer will take over as chief operating officer.

The group’s existing business model, which has concentrated on merchant banking, will be expanded. Michael Baer is the great-grandson of Julius Baer, founder of the eponymous Zurich-listed private bank. Baer was a member of the group executive board of Julius Baer and in 2015 decided to set up a new merchant bank.