HSBC Private Bank (Suisse) has today announced that Peter Braunwalder has decided to retire as chief executive officer, as of the 1 October 2008. He is to be replaced by Alexandre Zeller, currently chief executive of Banque Cantonale Vaudoise who will join HSBC Private Bank in August 2008. Mr Braunwalder will remain associated with HSBC Private Bank in an advisory capacity. In a statement, HSBC says that during the past six years HSBC Private Bank (Suisse) has grown under Mr Braunwalder’s leadership to be one of the largest private banks in Switzerland, doubling client assets under management in the last four years. Mr Zeller has been CEO of BCV since 2002 after a 15 year career at Credit Suisse which saw him rise to the post of CEO Private Banking for Switzerland. Chris Meares, CEO, HSBC Group Private Banking said: “Peter’s legacy in Switzerland is an enormously successful one. Alexandre’s appointment underlines the importance of HSBC Private Bank in Switzerland.”