The wealth management arm of Swiss private banking group Pictet made the appointment following the exit of Yves Bonzon.

Pictet Wealth Management has hired JP Morgan's Cesar Perez Ruiz as its new chief investment officer.

Ruiz, currently global head of investment strategy at JP Morgan Private Bank, will replace Yves Bonzon who left earlier this year for Brazil's BTG Pactual. 

Ruiz brings more than 20 years’ experience of investment strategies in both wealth and institutional asset management, having also served as JP Morgan Private Bank's chief investment strategist for Europe, Middle East and Africa. He formerly worked at M&G and Credit Suisse Asset Management.

Based in Geneva, Ruiz will take up his new role in March next year. He will chair the investment committee, made up of Pierre-Alain Wavre, chief executive of Pictet Investment Office, and Christophe Donay, head of asset allocation and macro research.

The hire follows that of Crédit Agricole's Frederik Ducrozet who joined Pictet Wealth Management as a senior economist earlier this month.

Pictet had £281 billion ($420 billion) in assets under management and custody as of the end of September.