The nomination is subject to regulatory approval and the approval of shareholders at an extraordinary general meeting on 7 October, the firm said in a statement.

After a familiarisation period, Dr Brandenberger will take over as chair of EFG International's risk committee, it said.

At Vontobel, Dr Brandenberger has been managing director, head of risk control and a member of that firm’s finance and risk management team. She started her career at the Swiss Financial Market Supervisory Authority.