Setting the responsibility issue aside, Hodler acknowledges that the control of risk at the bank needs upgrading. «As in all other sectors, we have expanded compliance, and will continue to do so in the future,» he told «Handelsblatt».
Nevertheless he doesn’t expect, given the complexity and size of the business, to eliminate all mistakes. Hodler doesn’t plan to dismantle all his predecessor’s structures. «We are exactly where we want to be,» he stressed.
He is also sticking to the «pure play» private bank model. «We will not expand into asset management, not least because we don’t want to raise suspicions that we will only want to put our in-house fund products into the depots of our clients.»
Upper Limit in Recruitment
Hodler also indicated that the unlimited rate of recruitment won’t continue, and that there could be an upper limit for the recruitment of advisers. «In future we don’t want to recruit more than 80 advisers per year, which is a rate we can sustain,» Hodler said.
The bank prefers instead to rely more on organic growth. Thus relying on recommendations from existing clients or managing a larger slice of their assets. Hodler would however like more investment in the key German, Brazilian and Asian markets.
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