The newly-formed investment products and wealth management services division Credit Suisse-owned private bank Clariden Leu is being substantially strengthened, with a new management team brought in for the sales and distribution and alternative investment products departments. The biotechnology, luxury goods and Swiss equity funds are also to have new managers. Marco Fiorini has been named the new head of sales and distribution for investment funds. He will join early in 2008. In recent years, Mr Fiorini has been responsible for product sales and international client relationships at Julius Baer. Volker Varnholt (also formerly at Julius Baer) as head of internal distribution and Thomas Henauer as head of distribution Switzerland will give the sales team a further boost. On 1 February 2008, Peter Labhart, recently at Bank Sarasin, will take over from Johannes Huth as head of alternative investment products. Lorenz Altwegg, also from Sarasin, will join the team as head of hedge funds from the same date. At the start of 2008, Irene Beatrice Püttner will take over responsibility for the Clariden Leu biotechnology equity fund. From 1 November 2007 Lucia Würmli-Kryenbühl will be in charge of the Clariden Leu luxury goods equity fund. She currently manages the Clariden Leu Swiss equity fund where she will be succeeded as manager by Juan Manuel Mendoza.