Switzerland’s second largest bank, under the leadership of Chief Executive John Knox, has been steadily growing its business in Australia and has now added another high profile banker.

A spokeswoman for the bank confirmed to finews.asia that the bank has hired Grant Lovett to lead the Fixed Income and Equity Derivatives unit in Australia. He will also take a seat on the banks Australian management committee.

Prior to this position Lovett was the Chief of Staff for the Australian Government Treasurer Joe Hockey. Before his government role he led the fixed income business for UBS in Sydney and New York,

Lovett is due to take up his new role on August 2.