Michel Arni has taken up the position of head of wealth management at Valartis Group, previously known as OZ Holdings. As a member of the group executive board, he will be responsible for the expansion of the group’s private-banking and family-office activities.

Mr Arni will be responsible for the development of new products and services for private banking and family office clients. He will also be in charge of the expansion of the organisational structures in Geneva and Zurich, in particular the establishment of a branch office of Valartis Bank in Geneva.

For the past thirteen years he worked for Rothschild where for the last ten years he was head of the private banking activities of Rothschild Bank, Zurich.

At Valartis, Mr Arni has taken over responsibility for the wealth management division which had been run on an interim basis by Michel Houmard.

Valartis specialises in wealth management, asset management, investment banking and real estate structured finance.

The banking unit is based in Pfaffikon, employs around 70 people and has around SFr4 billion in assets under management.

The company's previous name derives from "Optionen Zurich".