Ex-Pictet Boss Renaud De Planta Leaves Switzerland for Italy (2)

One of Switzerland’s top private bankers has moved to Italy, the latest in a line of wealthy individuals to relocate to the Mediterranean nation.

Renaud De Planta, who stepped down as Geneva-based Banque Pictet & Cie SA’s managing partner last year, relocated to the neighboring nation in recent months, a person familiar with the matter said. He continues to sit on the bank’s board as well as the Swiss National Bank’s Bank Council.

De Planta and his wife will still pay taxes in Switzerland, a considerable multiple of those in Italy, the person said. The banker has close ...