The Lugano-based wealth manager is hiring two private bankers for the Latin American market as well as two assistant relationship managers, it said in a statement on Monday. The head of the team, Christian Martinelli, will report to Peter Conrad, PKB's head of private banking.

The new hires besides Martinelli are Emilio Fiordaliso, Tania Weber ,and Gisella Vattilana. PKB established a Latin American presence in 2012 and now considers the region a core business. The bank, which bought Compagnia di Gestione Privata, or Cogesp, also of Lugano, late last year, manages roughly 12 billion Swiss francs ($13.3 billion).