Alex Jagmetti, the former head of Asia-Pacific for Falcon Private Bank, has resurfaced at a Swiss private banking boutique as head of Asia, this publication can exclusively reveal.

Alex Jagmetti, the former head of Asia-Pacific for Falcon Private Bank, has resurfaced at Swiss private banking boutique Gonet & Cie as head of Asia, WealthBriefingAsia exclusively revealed yesterday. (WBA is a sister website to WealthBriefing)

Alex Jagmetti has been based in Asia for around a decade, serving as managing director with HSBC and then UBS, before becoming head of Asia-Pacific for Abu Dhabi-owned Falcon Private Bank.

He left Falcon last October in the midst of a restructuring. Eduardo Leemann, chief executive of the bank, is managing Falcon's Asia business on an interim basis, while James Mok is in charge of Hong Kong business.

The hire of Jagmetti marks a turning point for Gonet. After opening its Singapore-based entity, Gonet Asia, last November, the Swiss private banking boutique is "embarking on a new phase in its development," according to a statement.

Nicolas Gonet, managing partner of the 167-year-old Geneva-based firm, said: "The region is ready to welcome the services of a niche player like Gonet, which focuses on the client and differs from the top-down approach developed by most of the big players."

Gonet Asia was launched under the stewardship of its CEO Viraj (Eddy) Somboon last November. Somboon remains CEO, reporting to Jagmetti. Jagmetti’s primary objective – apart from overseeing the entire presence of the bank in Asia – will be to establish and develop Gonet in Hong Kong. He will be based in Singapore.

The Gonet group has a presence in Geneva, Lausanne, Nassau and Singapore. The company offers wealth management services to both Swiss and international private clients.

Gonet joins peers Sarasin, Pictet, Julius Baer, Banca della Svizzera Italiana, Lombard Odier and EFG International, all of which have been making aggressive strides in the region through hires and M&A.