Close Brothers, the UK listed-investment bank, has hired a senior banker from BNP Paribas in Switzerland and opened its first office in Zurich, as it looks to take advantage of more companies and investment funds relocating to the country for tax reasons in the coming years.

Jürg Glesti, a former global relationships banker for mid-cap and large companies at BNP Paribas, has joined Close Brothers as managing director and head of its new Swiss operations, which will cover special situations, mergers and acquisitions and debt advisory work.