The firm has brought three new members to its group executive board. Chris Beukers has been named regional manager for Asia-Pacific, Tobias Unger has been appointed regional manager for Switzerland and Liechtenstein, and Brian Hurdis has been made chief service delivery officer.

Beukers’ appointment had been initially announced in December last year.

Last month, Avaloq named Juerg Hunziker as its new chief executive, taking the reins from Francisco Fernandez who now focuses on the role of group chairman. Hunziker began his new role on 1 January.

As previously stated, Peter Scott decided to leave the company, having worked at Avaloq since 2013. He was involved in setting up the Singapore service centre, creating three new regional offices in Australia, Singapore and Hong Kong and forging deals with customers including Maybank, Deutsche Bank, Citic, Bank of Asia and Crestone.  He remains in Singapore.

As reported in November, Warburg Pincus, the private equity firm, widened its ownership stake in Avaloq, the Switzerland-based banking and wealth management technology firm working in a number of regions, including Asia.

The investment house bought Raiffeisen Switzerland’s 10 per cent stake in Avaloq. In addition, Avaloq agreed in principle to acquire the remaining 51 per cent of the joint venture ARIZON from Raiffeisen Switzerland as per 1 January 2019 and take full ownership in Arizon. Furthermore, as part of the proposed transaction, ARIZON will enter into a service agreement with Raiffeisen running until the end of 2024.