Two executives of Notenstein La Roche in Bern won’t be staying to join Vontobel and have instead opted to move to a Geneva-based rival.
François Baumeler and Lorenz Burkhalter (pictured below) have joined Bordier & Cie. in Bern, the private bank said in a statement on Monday. Baumeler and Burkhalter were part of the executive board of Notenstein La Roche’s branch in the Swiss capital. They spent almost a decade at the bank.
The two bankers want to move back to their roots in traditional private banking, Bordier said. The statement can be seen as a swipe directed at Notenstein La Roche, which its owner Raiffeisen in May sold to Vontobel, where it will be integrated fully.
Not the First to Leave
The two departures aren’t the first to affect the Notenstein La Roche branch in Bern. In 2015, Martin Schenk and a large number of the local team left to launched Zaehringer Bank.
