Swiss wealth and asset manager Format Vermögen & Anlagen has appointed a new chief executive – Matthias Hug – as part of a series of management changes announced this week.

Mr Hug, the former chief executive of Lakefield Partners, also becomes head of investment management. He has worked for Format for more than eight years, prior to which he worked for Lakefield, his own investment boutique, UBS Wealth Management and the Boston Consulting Group.

Meanwhile, the firm’s two founding partners, Patrick Künzler and Werner Lehmann, remain on the executive board where they oversee client relationship management. Mr...