The Swiss bank's investment head is departing, finews.com has learned. He will be replaced by his long-standing deputy.
Lars Kalbreier is leaving Vontobel after three years as the chief investment officer for its private bank, a source familiar with the matter told finews.com. He will be replaced byDan Scott, effective May 1. A spokesman for the bank confirmed the move.
Kalbreier is headed for the global CIO role at another firm later this year. Scott followed Kalbreier from Credit Suisse to Vontobel as deputy CIO and head of investment office. Previously, he was an analyst at Credit Suisse and broker at Kepler Equities.
Investment Shift
Scott, who is Swiss, began his career as a journalist for Dow Jones and later for CNBC in Frankfurt and Zurich. In Vontobel's wealth CIO role, he will oversee 60 billion Swiss francs ($62.2 billion) in advisory as well as discretionary assets.
Since its asset management arm operates relatively autonomous boutiques, the bank no longer maintains a global CIO role. Vontobel last year unveiled a plan to restructure itself as an investment house.
