Berenberg hired Mathieu Gilbert and Franck Sabbah, the company said in a statement.

The former employees at Edmond de Rothschild are charged with developing investment procedures in overlay management. They have been hired to expand the company's asset management activities in Switzerland, France and the Benelux countries.

Both bankers will work from Geneva and will closely liaise with the Overlay & Liquid Alternatives unit in Hamburg and Chicago, where the Berenberg Asset Management U.S. unit is based.

Years of Experience Gained at Rothschild

Gilbert was named head of asset management Switzerland and will report to Tindaro Siragusano, the global head of asset management. Gilbert was at Edmond de Rothschild Asset Management for more than 16 years and worked as a group CIO in the Quantitative Management & Overlays unit.

He will receive support from Sabbah (pictured above). Sabbah is leaving Edmond de Rothschild after 14 years, where he used to be in charge of the Overlay Management unit.