Vontobel has recruited a chief financial officer from UBS, as the outgoing Martin Sieg Castagnola becomes a personal adviser to one of the firm's owners, Hans-Dieter Vontobel.

Thomas Heinzl take over the CFO role at the Swiss wealth manager on 28 July, joining from UBS Asset Management where he was chief operating officer and chairman of the asset management business.

Mr Heinzl formerly worked for Vontobel’s wealth management business between 2012 and 2014, where he headed investments, sales, and product management.