Zurich-based Vontobel is hiring Simon Lue-Fong as the head of its fixed income boutique, effective immediately, it said in a statement on Thursday. Until two years ago, Lue-Fong was an equity partner at Pictet, where he ran the global emerging market bond activities for the Swiss bank's asset management arm, according to his Linkedin profile.

Vontobel's $45 billion credit arm is made up of London-based Twentyfour Asset Management as well as the Zurich-based fixed income boutique. Lue-Fong will strengthen Vontobel's investment expertise, the bank said, but didn't disclose specific targets.

Before Pictet, Lue-Fong worked as a portfolio manager for Standard Bank, Fischer Francis Trees & Watts, Inc. or FFTW, and Invesco. He is credited with expanding Pictet’s emerging markets bond franchise from less than $1 billion to roughly $32 billion in his 13 years with the wealth manager, Vontobel said.