Deutsche Bank confirmed to WealthBriefing that Marco Bizzozero will be the new chief executive of the German bank’s Swiss subsidiary, retaining responsibility for private banking operations throughout much of Europe, Middle East and Africa.

Mr Bizzozero has worked at Deutsche Bank since 2004 and will replace Hans-Jürgen Koch, who will head the Middle East and Africa regions.

He has previously worked at UBS’s investment banking division, according to a statement from Deutsche Bank.