Avaloq has appointed Thomas Beck as its new head of innovation development, effective from 1 July this year. He has previously worked at UniCredit Global Information Services and succeeds Simon Kauth, who now heads Avaloq’s new development centre in the UK.

Beck will report directly to chief technology officer Klaus Rausch and will be responsible for the implementation of the firm's product strategy, Avaloq said in a statement. Beck has worked in the financial services and IT sectors for more than 20 years.

Among other projects during his career, Beck has implemented a global risk management and control system and participated in the design and implementation of a global IT platform for investment banking at UniCredit Bank.

Beck has also lectured on economical and financial mathematics at several universities.