Vontobel, the Zurich-based private bank, has appointed Christophe Bernard as chief strategist of the group and head of its newly-created balanced and multi-asset class boutique.

Thomas Steinemann, the group’s present chief strategist, has decided to leave the company after more than a decade to pursue other opportunities.

Bernard joins from Union Bancaire Privée where he held a similar position. He will take up his new role at the start of next month.

The new strategy, part of the firm’s asset management division, combines existing capabilities in the areas of balanced and multi-asset to create a single unit with 20 investment specialists and SFr10 billion ($11 billion) of client assets.

“In periods of low returns, high volatility and strong correlations between markets, it is important to re-examine and realign traditional investment strategies,” Zeno Staub, chief executive of Vontobel Group, said in a statement.

Last week, the wealth manager reported net inflows amounting to SFr8.2 billion for 2011, 10.4 per cent up on 2010. The group also boosted assets under management by 3 per cent to reach SFr131.6 billion at the end of last year.