EFG International is extending its wealth management business to Tel Aviv to serve wealthy clients in Israel and it opening a financial service office there, it said in a statement Monday.

The private bank is appointing Joseph Wolf as CEO of the Israel business. Wolf will report to Franco Polloni, head of Switzerland & Italy. Prior to his new position, Wolf served as served as head of Private Banking Israel at Credit Suisse. 

Furthermore, Ex-Credit Suisse banker Michael Dadoun will be heading EFG Private Banking Israel. Dadoun previously worked at UBS Wealth Management and Bank of America Merrill Lynch.