Headed by Richard Briance, the move is part of the private banking group's plans to turn London into its fourth major business centre, the firm said in a statement.

As part of the expansion, the group has recruited an international team of senior bankers and advisors with wide-ranging expertise in corporate and strategic advisory, transaction structuring, wealth planning, direct investment and portfolio management, led by Henrik Schliemann.

The launch includes a broad array of services, including strategic and financial advisory, structuring, investment advice and wealth management.

The firm runs an asset management business in London, which focuses on funds of hedged funds and fixed-income business.