Geneva-based Banque Cramer last night announced the surprise departure of its top manager: Chief Executive Christian Gruetter has decided to leave the bank after three years in the position. His replacement will join from one of the bank’s local rivals.

Christian Gruetter, chief executive officer at Banque Cramer, has decided to leave the bank after three years in charge, Norinvest, the company which owns the bank, said in a statement last night.

The investment firm didn’t provide a reason for the departure of the manager and thanked Gruetter for his services, adding that it wished him all the best for his future projects.

Mirabaud Manager to Take Over

Banque Cramer appointed Cédric Anker as its new CEO. He will assume the position on October 1, 2017. Anker currently is a member of the executive committee of Bank Mirabaud.

Anker has 30 years of banking experience, with appointments at Credit Suisse and UBS to begin with. He assumed responsibility for the Geneva branch of Bank Vontobel in 2006. In 2010, he became head of private banking Switzerland at Mirabaud.