It is understood that Mr Hiscocks will join the Swiss private bank at the start of September. In his new role he will focus on high net worth entrepreneurs.

In other recent hires, in July Lombard Odier appointed Stéphane Monier as global head of fixed income and currencies – an appointment which the bank has said will allow Rodrigo Araya, head of credit, to focus on the management and development of its investment grade credit capabilities.

Mr Monier, who formerly worked for Fortis Investments in London, is now based in Geneva, reporting to Hubert Keller the managing partner responsible for asset management.

UBS declined to comment when contacted by this publication.