Zurich-based private bank EFG International appointed Daniel Murray as the new CEO of EFG Asset Management Switzerland at the beginning of July in addition to his jobs as deputy chief investment officer and global head of research, the bank said Wednesday.

Murray has been with EFG's U.K. fund arm since 2010 and previously worked for the bank in London from 2003 to 2007. He has also worked for competitors Russell Investments and Merrill Lynch.

Division’s Co-founder Leaves

Murray succeeds Patrick Zbinden, who had headed the Swiss wealth management division since 2017.

A bank spokesman said Zbinden had already left the company.

He had been with EFG since 2003 and co-founded its asset management division in 2010.

According to earlier reports, the Swiss unit manages over 22 billion Swiss francs ($24 billion) in assets for private and institutional clients.