Swiss fintech company Swissquant appoints Hans Otto Engkilde as its new CEO, the institution, announced on Friday. Upon assuming the role on May 8, he succeeded company founder Lorenz Schumann, who is turning his focus on chairing the board of directors.

Engkilde brings broad expertise and deep domain knowledge to the role, having built up the European and Middle Eastern business of the Danish software company Simcorp in recent years. His focus at Swissquant will be on expanding the European business and developing new markets in the Middle East.

Zurich, Frankfurt, and London

In doing so, he is also expected to drive further development of artificial intelligence (AI) solutions in risk and portfolio management to improve the investment process.

Swissquant Group, with offices in Zurich, Frankfurt, and London, bills itself as providing financial institutions with innovative risk, asset management, and data analytics solutions.