The Brazilian investment bank has hired Pictet veteran Yves Bonzon within BSI's leadership team.

Brazil's BTG Pactual has appointed Pictet's Yves Bonzon as chief investment officer at BSI, the Swiss private bank it is acquiring from Italy's Generali.

Bonzon will join from his position as chief investment officer of Pictet's wealth management business. He has chaired the private bank's investment committee since 1998.

“Yves will join BTG as a partner and become chief investment officer of BSI after a period of gardening leave,” said BTG Pactual's head of international asset management and BSI's incoming director, Steve Jacobs, according to a report by the Financial Times.

The Latin American investment bank's SFr1.5 billion ($1.6 billion) acquisition of BSI from Italian insurer Generali is still subject to final regulatory approvals.

Lugano-based BSI represents BTG Pactual’s largest acquisition outside Latin America, set to create a global wealth and asset management business with over $200 billion in assets under management.

Earlier this year, BSI became the first bank to reach a non-prosecution agreement under the US Department of Justice's voluntary disclosure programme.