One hundred days into his CEO role, Urs Baumann gave an interview to «Neue Zuercher Zeitung» in which he spoke about where Zuercher Kantonalbank wants to grow as well as the role Credit Suisse plays for Switzerland’s financial center.
Zuercher Kantonalbank is aiming to expand its private banking business, including abroad, CEO Urs Baumann told «Neue Zuercher Zeitung» (in German, paywall) in an interview.
In line with this goal, came the announcement earlier this month the bank is adding private client services to its business in Austria, as finews.com reported at the time. Having said that, at home, the bank is not actively chasing the high-net-worth clients of its cross-town rival Credit Suisse.
Baumann sees the struggling competitor as a reliable partner for the state-owned bank as well as an important player in the country’s corporate banking industry.
«We wouldn't be able to handle many of the transactions on our own,» Baumann said.
Diversification
Baumann will continue to focus on reducing the bank's dependence on the interest differential business in an attempt to diversify its business.
At ZKB, which according to him is one of the safest banks in the world, continuity is the top priority. Other strategic focus areas include digitalization, sustainability, and developing the brand.
