Connolly had been with the Swiss bank since October 2006, prior to which he had spent five years at Schroders covering fixed income.

Connolly is understood to have held various responsibilities within Credit Suisse’s UK private banking team, but he is perhaps best known for having spearheaded the 2008 launch of a new service specifically targeting gay high net worth clients and staffed by advisors who are themselves gay.

Details of Connolly’s next role have yet to emerge. Credit Suisse declined to comment when contacted by this publication.

News of Connolly’s resignation closely follows that of the departure of Pontus Aldell, as exclusively reported by WealthBriefing earlier in the week. Aldell, who had headed up the Nordics and Israel private banking team at Credit Suisse in London since December 2009, is understood to have joined JP Morgan.