The Swiss private banking group Clariden Leu has named a new chief executive to replace Hans Nützi, who has decided to step down from the position. Olivier Jaquet has been appointed as group CEO, with immediate effect.

Clariden Leu’s Asian offices are based out of Hong Kong and Singapore.

Jaquet was latterly CEO of Credit Suisse Trust, a position to which he was appointed in 2006. Before this he had a number of roles in private banking and Winterthur Insurance at Credit Suisse. He began his career at Swiss Bank Corporation in 1994 and held various positions with the firm, including head of financial planning and wealth management.

Meanwhile Nützi will assume the role of a senior advisor to the chairman of the board of directors of Clariden Leu. He was appointed CEO of Clariden Leu at the end of 2007 and is said to have played an instrumental role in executing the merger of the five institutions Clariden Bank, Bank Leu, Bank Hofmann, BGP Banca di Gestione Patrimoniale and Credit Suisse Fides, completed at the end of 2010.