The Zurich-based bank said it hired Andy Phillips, Stefano Bruschini and Tim Bichard as relationship managers, as well as Sam Grayland in its portfolio management team.

All four have defected from Credit Suisse. Prior to that, Philips worked at Kleinwort Benson in Guernsey and at Barclays in the U.K. Bruschini, a specialist for high-net worth clients, spent nine years at Credit Suisse while Bichard is a 17-year-veteran of the Swiss bank.

The hires represent the second major reinforcement of Guernsey for Baer this year under branch manager Paul van Neste.