Zurich-based private bank Maerki Baumann & Co has appointed former chief executive of Lugano-based Banca del Gottardo, Rolf Aeberli, as its new chief executive. Mr Aeberli will replace Arthur Bolliger on 1 October. Mr Bolliger has been chief executive at Maerki Baumann for 20 years. Last year Andreas Buri, ex-chief executive of Basel-based CIAL Bank, was appointed as chief executive but only lasted two months due to “operational differences”. Mr Bolliger was brought back to his former role whilst a new successor was found. Maerki Baumann was founded in 1932 and is owned by the Syz family, one of the most powerful Swiss banking families. Mr Aeberli left Banca del Gottardo after its former owners, Swiss Life, agreed to sell it to BSI, the Lugano-based Swiss private banking unit of Italian financial services group Generali, for SFr1.875 billion ($1.843 billion) late last year. BSI and Banca del Gottardo are being merged to create a new Swiss private banking institution, headquartered in Ticino, with SFr100 billion in assets under management.