The ex-chief technology officer of Switzerland’s largest bank has taken over as chief executive at an international software company.

Hans Juergen Rieder assumed the position as CEO at Actico on January 1, 2020. He replaces Thomas Cotic, the firm's founder, who moved up to take a seat on the board of the firm, which is based in Immenstaad on Lake Constance.

Rieder, 54, was chief technology officer at UBS until last year when he was replaced by Elly Hardwick and Rick Carey. He started his career in 1992 at General Motors.

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After top jobs at companies including Société Générale, Price Waterhouse Coopers, SAP and ABB, Rieder decided in 2019 to take a job at an innovative software firm.

Cotic will focus more on the development of the company’s technology. Despite his decision to step down as CEO, Cotic remains fully committed to the company.