Morgan Stanley Wealth Management has hired Dr Patrick Fuerer as a managing director and chief operating officer of Bank Morgan Stanley, a Swiss subsidiary of the US-based wealth management firm.

Dr Fuerer joins from Raiffeisen Group Switzerland, where he was chief operating officer and a member of its managing board with responsibility for IT, operations and logistics.

He has also held a number of senior roles at WestLB, including the post of chief operating officer then joint chief executive officer of its investment bank.

He began his career at UBS.