Christophe Caspar, the soon-to-depart chief investment officer for Europe, the Middle East and Africa at Russell Investments, is to switch from asset to wealth management in a new role at Swiss private bank Pictet.

The news came days after Financial News reported on May 6 that Caspar, who is also Russell's global investment chief for multi-asset solutions, had resigned and would leave on June 1 for a new opportunity in Geneva. At Russell, Caspar oversees some $119.3 billion in assets and a team of 60.