Credit Suisse has named Burkhard Varnholt as chief investment officer (CIO) of its Swiss unit, replacing Anja Hochberg.

On 1 January 2017, he will assume this role in addition to his responsibilities as deputy global CIO and vice-chairman of the Investment Committee of Credit Suisse.

He will report both to Michael Strobaek, the global investment chief and head of investment solutions and products, as well as Thomas Gottstein, who runs the Swiss unit.

Hochberg will continue in her role as head of investment services and will remain a member of the Investment Committee, the Swiss private banking giant said in a statement.

Varnholt, who worked for the bank from 1996 to 2006 as global head of financial products & investment advisory in private banking, rejoined Credit Suisse in November 2016.

From 2006 until 2014, he was CIO at Bank J. Safra Sarasin. Thereafter, he was CIO and Head of Investment Solutions Group at Julius Bär for almost two years.