The current head will depart in December to pursue other opportunities.

Peter Hinder will succeed Marco Bizzozero as Deutsche Bank's head of wealth management for Europe, Middle East and Africa, while also becoming chief executive of the bank's Swiss operation.

Bizzozero joined the bank in 2004 as global head of private equity for private wealth management and has held the above roles for the past eight years. Deutsche Bank said he had been “instrumental” in repositioning and growing the EMEA - excluding Germany - wealth management business and the Swiss business. After 12 years with the bank, he will depart to “pursue other opportunities”, the bank said in a statement. 

Hinder joined last year and is chief of staff for private, wealth and commercial clients. Previously, he spent 23 years with UBS, carrying out numerous roles within wealth management and business banking. Additionally, he spent four years as CEO of Thurgauer Kantonalbank, a Swiss bank that offers private banking and asset management services. Over the past year, he has helped shape Deutsche Bank's wealth management strategy. He will assume his new roles on 1 December 2016.

“With Peter Hinder, we are bringing a proven wealth manager and banker to the helm of our wealth management EMEA and Swiss businesses,” said Fabrizio Campelli, global head of Deutsche Bank Wealth Management.