Swiss private bank Banque SYZ CEO has appointed its deputy CEO Yvan Gaillard as its new CEO.

Gaillard will succeed Eric Syz, who now intends to focus on the private bank’s strategic direction and developing its client base.

Gaillard spent 18 years at Banque Pictet & Cie before moving to SYZ Group in 2016.

He has been working as the deputy CEO of Banque Syz since last year, though he originally joined the business in the role of COO.

Meanwhile, Nicolas Syz has been named as the new head of private banking, replacing Silvan Wyss.

Wyss will depart by “mutual agreement”, the group said.

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Nicolas Syz previously served as the head of business development for SYZ Private Banking.

He will now have a seat on Banque SYZ’s executive committee.

Before joining SYZ Group in 2017, he had stints at UBS and Firmenich.

“I firmly believe these significant changes within the Group and Banque SYZ will enable us to serve our clients even better and ensure the continuity of our independent, family-owned business,” Eric Syz noted.

SYZ Group, established in 1996, operates through Banque SYZ, SYZ Asset Management, and SYZ Capital.

Banque SYZ tends to private banking customers, while SYZ Asset Management caters to institutional investors.

SYZ Capital tends to clients looking for privileged access to private investments.