Effective this month, Swiss banker Peter Fanconi was appointed vice-president of Deutsche Bank's Swiss banking arm. The former head of Vontobel's private bank will head the audit committee as well as the Swiss unit's compensation committee, the German bank said on Tuesday. 

Fanconi, who was previously Chief Executive of Harcourt Investment as well and a board member ofLiechtensteinischen Landesbank, or LLB, replaces Rudolf Hug, who is resigning after 15 years at Deutsche.

The German bank is the third industry role for the 50-year-old Fanconi, who is president of retail lender Graubuendner Kantonalbank as well as Geneva-based microfinance firm Blue Orchard.