Credit Suisse has appointed  Michael Strobaek as its chief investment officer for the private banking and wealth management division, effective from 1 May, it said on Friday. Additionally, he will head the newly established investment strategy and research group within the division.

Strobaek will report to Robert Shafir, head of private banking and wealth management products. Strobaek joins from a Swiss family office, where he was chief executive and CIO. Prior to that, Strobaek spent 13 years at UBS in a number of senior positions, most recently head of investment management for wealth management, and prior to that global head of investment solutions.

The appointment involves partly the creation of a new role, following reorganisation of the investment team, and due to the departure of Stefan Keitel from Credit Suisse, where he had been global CIO, a spokesperson for Credit Suisse told this publication.

The investment strategy and research group is comprised of the global CIO office, rsearch for private banking and wealth management, regional CIOs and additional groups within the division that produce complementary investment content.

Giles Keating, head of research for private banking and wealth management, will assume the role of deputy head of the investment strategy and research group in addition to his current role. Research will partner closely with the CIO office on actionable ideas, while retaining the independence of process, according to a statement from the Zurich-listed bank.