Zurich-based Bellerive Private Bank has promoted Willi Etter as its new chief executive.

Zurich-based Bellerive Private Bank has promoted Willi Etter as its new chief executive in place of Roberto Bianchi who has stepped down. Mr Etter joined Bellerive as deputy chief executive in 2005 from Basler KantonalBank, where he was on the management committee. Henrik Hedman, who also joined in 2005 as senior private banker and client relationship manager, has been elected as a member of the executive committee of the board of directors. He previously worked for Svenska Bank in Zurich. Bellerive Private Bank is owned by Graubündner Kantonalbank. As of 30 June 2007, Graubündner Kantonalbank's assets under management exceeded SFr14 billion ($12 billion) for the first time.