Lucerne-based private bank Reichmuth & Co brings in a new partner for its business with corporate clients from Credit Suisse. The new appointee has excellent contacts in Central Switzerland.
Lucerne-based private bankers Reichmuth & Co. appoint Sandro Kutschera as their new partner. Starting January 1, he takes over the entrepreneurial clients division and becomes a management team member, according to a statement on Wednesday.
At Credit Suisse, Kutschera headed the Central Switzerland region with around 300 employees, having taken on the role at the beginning of the year in addition to his duties as regional head of private banking. According to the statement, he successfully helped develop the Entrepreneurs & Executives (E&E) division at Credit Suisse after starting his career at the bank in Lucerne in 2003.
Focus on the German Market
Juerg Staub, a partner with unlimited liability, currently heads the Entrepreneurial Clients division at Reichmuth & Co. In the future, he'll devote more time to customer care and further develop the German market, where the Lucerne-based bank has a Munich office.
Reichmuth CEO Remy Reichmuth sees the bank's position strengthened by the new appointment. «Thanks to his experience and network, he strengthens us on the client side and in the management team.»
Integration Prompted Exodus
UBS's decision to fully integrate Credit Suisse's Swiss business put forces in motion. UBS unveiled its Swiss business management team, headed by Sabine Keller-Busse, in early September, with management of the ten Swiss UBS regions determined at the end of September. Daniel Cottini, already working for UBS in the Central Switzerland region, made the cut.
In July, Geneva-based private bank Lombard Odier scored a win in the region by taking on a 13-strong E&E team from Credit Suisse in Zug and immediately opening a new location.
Elsewhere in Switzerland, there's been no end to departures. A complete team of Credit Suisse client advisors moved to Piguet Galland, a private bank in western Switzerland, and a high net worth individuals (HWNI) team in Basel moved to J. Safra Sarasin.
Managers and Executives on the Move
There are additional, prominent changes in managers and executives. Geneva Cantonal Bank found Nicolas Kruegel to fill the CEO position at Credit Suisse. Anke Bridge Haux's move from Credit Suisse to LGT Switzerland as the new CEO was in the bag before the emergency merger with UBS, and the move of Serge Fehr, the former head of Swiss private banking at Credit Suisse, to Lombard Odier was also big news for the industry.
