Julius Baer has hired from a Swiss rival in appointing a new head Markets and Advisory Solutions Asia.

As finews.asia reported recently Rajesh Manwani has been appointed as the head Markets and Advisory Solutions Asia.

He succeeds Luigi Vignola who has relocated back to Switzerland to become global head Structured Products, the bank said in a press release.

Based in Singapore, Manwani will be leading the Markets and Advisory Solutions teams and will report functionally to Peter Gerlach, head Markets and Philipp Rickenbacher, head Advisory Solutions, and regionally to Jimmy Lee, head Asia Pacific.

Selective Hiring Continues

Prior to taking on the new position Manwani worked at Credit Suisse, where he ran the Zurich-based bank's investment products and solutions division in Asia. Before that he worked with UBS and Standard Chartered Bank.

Zurich-based Julius Baer, which calls Asia its second home, has hired aggressively over the past few years in both its Singapore and Hong Kong hubs.

In its recent first half 2017 report the bank said it was still hiring, though more selectively while also strictly managing poor performers.