Swiss financial services giant UBS has appointed Peter Sany as its new chief technology officer.

Sany will take over from current head of IT Scott Abbey on 1 April, and joins from his existing role as group chief information officer at Deutsche Telekom. He has also worked at IBM and pharmaceutical firm Novartis.

UBS has been one of the hardest-hit banks during the credit crunch, writing off more than $40bn and laying off more than 5,000 jobs as well as losing chairman Marcel Ospel during the worst of the cuts last year.