Switzerland-based Vontobel has appointed Peter Romanzina as CEO of its offshore subsidiary Vontobel Swiss Wealth Advisors (VSWA), effective 15 December 2022.

VSWA offers specialised globally diversified wealth management services for clients in North America.

Post-appointment, Romanzina will also head the new entity that will be formed after the merger of Vontobel SFA and VSWA by the first quarter of next year.

Ex-UBS Swiss Financial Advisers (now Vontobel SFA) CEO Jürgen Wegner will be the deputy CEO of the new entity, which will operate under the name of Vontobel SFA.

Romanzina, who is currently leading the Vontobel Swiss Equity Research team, will succeed Jacqueline Hess.

Hess will become the vice chair of the board of directors of Vontobel SFA, which was created after Vontobel bought UBS Swiss Financial Advisers (SFA) in August this year.

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By GlobalData

Jean-Philippe Bertschy will succeed Romanzina as head of the Swiss Equity Research arm. Bertschy will retain his existing position once he assumes the new charge.

VSWA and Vontobel SFA board chairman and head of Vontobel wealth management Georg Schubiger said: “Peter is a proven expert with many years of experience in working directly with discerning investment clients at Vontobel, Kepler and Credit Suisse First Boston, among other financial institutions.

“As the former Head of Vontobel Brokerage, he also has experience in leading a US-regulated business.

“Peter Romanzina and Jürgen Wegner and their teams are committed to offering our North American clients the best possible advice regarding the regional diversification of their assets.”

Vontobel posted net new money outflows of $3.46bn in the first nine months of this year.