Bank J Safra Sarasin has appointed Daniel Belfer as chief executive.

As part of a reorganisation of the group's executive board, he replaces Edmond Michaan, who will become head of group strategy at the bank and at the larger J Safra Group, including real estate, other private investments and as future member of the board of Chiquita.

Mr Belfer is currently responsible for the trading, treasury and asset management division and member of the group executive board. Since 2000, he has worked for different entities of the J Safra Group. He is a CFA Charterholder.

He is being replaced by Oliver Cartade, who also b...