Societe Generale (SG) Kleinwort Hambros has promoted a new chief executive to its Channel Islands division as the previous head steps down.

Former deputy CEO Christophe Huchet will take on the role 'with immediate effect' following predecessor Mike Allen's decision to hand over after eight years in charge.  

CEO of Kleinwort Hambros John Maitland said: 'With his strong credentials and experience in the banking industry, we are extremely pleased that Christophe has taken up the key role of CEO for the Channel Islands. 

'We are dedicated to this part of the business and have a clear strategy to further strengthen and enhance our local offering to clients. 

'Christophe’s track record of leading teams and growing business lines makes him the ideal person to drive the business forward and reinforces our commitment to the region.'

Allen will remain an executive director until June 30. At the time of publication, a spokesperson was unable to confirm his future plans. 

Huchet, who will be based in Jersey, became deputy last January, and has 16 years of experience within Societe Generale.

He was previously the company's regional head of tax in Zurich having earlier served as chief operating officer of SG's Milan branch, as well as group head of tax in Italy and Switzerland.

He will now be responsible for developing business strategy, providing banking, investment and wealth management solutions to domestic and international clients and financial intermediaries.

SG purchased Kleinwort Hambros from the Oddo Group in March 2016.