Vontobel Group, the Swiss family-owned private bank, has promoted its head of asset management to become the youngest chief executive in its 90-year history, as the company eyes aggressive growth outside of its home market.

Zeno Staub will become the new chief executive of the Zurich-based Vontobel, replacing Herbert Scheidt who has stepped up to take on the role of chairman. He takes over from Dr Urs Widmer who is retiring from his past after five years at the age of 70.