Swiss asset manager Vontobel has appointed Stefano Retti as the new head of its wealth management business in Geneva in order to bolster its presence in French-speaking Switzerland.

Retti, who will join Vontobel from Société Générale, will assume the new responsibility on 1 February 2019.

He will also join the management committee of Vontobel Wealth Management.

Retti will directly report to Christoph Gloor, deputy head of Vontobel Wealth Management and responsible of wealth management in French-speaking Switzerland.

Gloor said: “We are pleased to welcome Stefano Retti as the new head of our wealth management business in Geneva.

“I am sure we can benefit from his experience and competencies. This appointment is part of our growth strategy and shall foster our expansion plans in French-speaking Switzerland.”

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At Société Générale, Retti was responsible for the development of the onshore market. He was also associated with CIC private bank at its Geneva branch.

In July, Vontobel completed the acquisition of Notenstein La Roche from Raiffeisen Switzerland.

Recently, the company also opened an office at Lausanne as a part of its expansion programme.

Vontobel Wealth Management head Georg Schubiger said: “Geneva and Lausanne are playing a crucial role in strengthening Vontobel’s presence in French-speaking Switzerland.

“We want to increase our market share in the Wealth Management sector in French-speaking Switzerland, where we see a great potential.”