, has relocated to London to take up the role of business head for Asia-Pacific, UK. 

After working in Singapore for 19 years, Balmelli said in a Linkedin post that the firm is "further developing our offering, for our Asia-Pacific clients and prospects, out of London."

"The City is always an attractive hub for education, real estate and investments with a stable legal system," Balmelli wrote.

Zurich-listed EFG confirmed the change to WealthBriefing and WealthBriefingAsia when asked about the matter.

Earlier this year, reports said that the firm was courting wealthy Asian clients via London, and setting up a desk specifically for such individuals. Reports said Balmelli will lead a team of around 10 people.

Balmelli has been deputy chief executive of EFG’s Singapore branch; he joined BSI – the Swiss bank that was later acquired by EFG – back in 1995.

In other recent news, earlier in July EFG International appointed Luis Ferreira as chief investment officer for the Americas and deputy CEO for the RIA business in Miami.