Vontobel Wealth Management has appointed Dan Scott as its new CIO, replacing Lars Kalbreier.

Scott previously served as the deputy CIO of the firm.

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He started his financial endeavour at Dow Jones and later at CNBC in Frankfurt and Zurich.

He also had stints at Credit Suisse and Kepler Equities.

Kalbreier will depart from Vontobel to serve as the global CIO role at another firm later in 2020. He formerly worked at Credit Suisse.

Separately, Vontobel recently strengthened its wealth management team in Basel with the appointments of Alain Bouvrot and Matthias Eichenberger.

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The pair will join Vontobel on 1 August 2020. They earlier were senior relationship managers in the Wealth Management business of UBS.

Vontobel Wealth Management Basel head Daniel Schüpbach said: “Within our Swiss home market, Basel is one of the locations that is generating growth, and we will continue to expand our presence there on a targeted basis in the future.

“Going forward, the demand for financial advice – and therefore also for active wealth and asset management – will remain strong; this has not changed because of the corona crisis. After all, every crisis to date has shown that the capital market outperforms every other form of investment over the long term.”