Mr Snyder managed $3 billion of client assets at Deutsche and had worked for the German bank for six years, according to the news service. His career also includes a ten-year period spent at Goldman Sachs.

In other developments, Credit Suisse Banque Privee France, the Swiss bank’s French private banking arm, announced the appointment of Betrand Michaud and Henri Perrachon at the end of last week.

Mr Michaud will concentrate on wealth structuring; he had previously been with the Paris-based Banque Transatlantique and before that he was a tax lawyer at Lefèvre Pelletier & Associés, the bank said in a statement.

Mr Perrachon joins Credit Suisse from Dexia Banque Privée, where he was head of the life insurance department. At Credit Suisse Banque Privée France he will also be responsible for life insurances.