Zuercher Kantonalbank is replacing its head of private banking with international clients with a veteran of the regional lender, finews.com has learned.
The regional lender named Adrian Kohler as head of its international private banking arm, effective next year, finews.com has learned. A ZKB spokeswoman confirmed the appointment.
The 52-year-old Swiss native replaces Martin Baldauf, who is stepping aside as part of succession planning ahead of his retirement in 2019. Baldauf, who joined ZKB eight years ago, has been instrumental in building up the lender's business outside of Switzerland.
Kohler, who will report to overall private banking head Christoph Weber, has been tasked with continuing ZKB's growth abroad.
10 Billion Sfr Target
The target is ambitious in view of ZKB's modest success with international clients: at mid-year, the bank's managed assets stood at 8 billion Swiss francs. Weber wants to hit 10 billion francs within two years, from 6 billion last year.
ZKB, a local lender with a major mortgage book in Zurich and extensive retail and corporate business, manages more than 70 billion francs overall in private banking. The bank's biggest branch outside of Switzerland is Austria, which Kohler ran from 2010 until 2015.
Austrian Push
To grow in Austria, ZKB has poured resources into the market, especially in the last few years. In total, ZKB employs 90 staff in Austria.
Kohler has been with ZKB since 2003, most recently as Baldauf's deputy in north and eastern Europe. An economist, Kohler previously worked for UBS in Zurich and London.
