Banque Syz, a private bank with 37bn Swiss francs ($37bn) under management, is searching for a chief executive for its investment business after Katia Coudray said she would step down.

Coudray has "decided to leave the group after seven years to pursue new career opportunities", the firm said in a statement on May 24. Banque Syz's founder, Eric Syz, will take the reins of the CHF18bn funds division until a full-time replacement is found.