After a series of high-profile departures, Notenstein La Roche Privatbank has recruited a private banking heavyweight.
Notenstein La Roche has lost several of its top bankers and executives as is grapples with a restructuring, as finews.com has previously reported (here and here). The St. Gallen-based, now led by Patrick Fuerer, has at least temporarily reversed that trend by hiring former St. Galler Kantonalbank head Walter Ernst.
Effective immediately, he will run the Notenstein's private banking arm in western Europe, according to German portal «Private Banking Magazin» (in German). Ernst is taking on a new role created as a result of the Swiss private bank's restructuring. Notenstein has withdrawn from markets such as central Europe and Russia, as finews.com reported exclusively, in favor of reinforcing business closer to home.
Ernst was with the cantonal bank for three years, the last two as head of its private bank in Germany. Previously, he ran Vadian Bank, which was integrated SGKB two years ago.
