After five years as chairman of Rothschild & Co Bank AG, Bruno Pfister will step down from his role in the summer.

He will remain a member of the board until the end of the year to ensure continuity and help to manage a smooth transition of responsibilities to Gary Powell, who will replace him as chairman.

Mr Powell has been with Rothschild & Co for over 25 years in a variety of senior roles and remains chairman of Rothschild & Co’s wealth management business. Mr Pfister will continue to work with Rothschild & Co as a senior adviser.

Due to his appointment as executive chairman of Rothsc...