Burkhard Varnholt will take over as Credit Suisse’s global chief investment officer (CIO) and chairman of the investment committee on May 8th.

Since 2016, Varnholt has held the positions of deputy global CIO and vice-chairman of the investment committee. Michael Strobaek will step down from these roles in order to take on a new opportunity outside of the bank.

Varnholt will report to Francesco De Ferrari, CEO wealth management, and will sit on the wealth management division’s management committee. Varnholt and his colleagues will continue to manage and position the Credit Suisse house view while also leading and supporting the approaching transition.

From 1996 to 2006, Varnholt served as global head of financial products and investment advisory in private banking for Credit Suisse before re-joining the company in November 2016.

At Bank J. Safra Sarasin, he served as chief investment officer from 2006 to 2014.

The following nearly two years were spent as chief investment officer and head of the investment solutions group at Julius Bär. From the University of St. Gallen, Varnholt earned both a master’s and PhD in economics.

During Strobaek’s 10-year tenure, the Credit Suisse house view was repositioned as a strategic and distinguishing feature for Credit Suisse clients.

Credit Suisse’s house view is a worldwide investment approach that is integrated, specialist driven, interdisciplinary, and performance focused, with a strong emphasis on responsibility at all stages of the value chain.

This methodical approach has resulted in numerous decisive investment decisions over the years, adding significant value to clients’ portfolios over time.

Earlier this month, according to Reuters, investors who own Credit Suisse bonds worth more than 4.5bn Swiss francs ($5bn) have filed a complaint against the Swiss regulator for its decision to wipe out their interests during the emergency government-planned takeover last month.