SWITZERLAND - JP Morgan Asset Management has appointed BZ Bank’s chief executive, Roland Vogel, as country head for Switzerland.

Vogel, who started at the beginning of the month, replaces Gianni Valsecchi who left the company earlier this year. The reason for Valsecchi's departure was not clear.

Vogel will report to Peter Schwicht, head of European institutional business. Vogel left BZ at the end of last year, a bank official told IPE. He has not yet been replaced at BZ.

According to JP Morgan Vogel has also worked at Julius Baer, where he was a member of the management committee, and Credit Suisse as an investment advisor for institutional clients.

Schwicht said: "Roland Vogel brings a wealth of experience in asset management and I am delighted to welcome him to the European Institutional team.

"The Swiss retail business has experienced rapid growth over the past two years and Roland will play the lead role in continuing our expansion in this important territory."

JP Morgan AM has $790bn (€634.3bn) in assets under management.