After months of speculation, Halston’s announced their newest creative director, Central St. Martin’s alum Marios Schwab.

The half-Greek, half-Austrian designer’s headed his own label since 2005. Now he’s picking up for a move to New York and planning to debut his first collection for Halston, Fall 10, next February. He told WWD, “While Halston’s DNA is crucial to its future success, I very much wish to move the brand forward and make it relevant for today.”

The announcement comes after a season in which Halston fell apart (again) and Schwab, with his psychedelic, architectural Fall 09 collection, established himself as an industry favorite. It’s easy to see how after that collection, one editors watched delightedly through their 3-D glasses, Schwab could do anything.

And yet we’re more relieved to hear he’s keeping his own line than we are excited to see what he does for Halston.