The Chinese-owned private bank is beefing up with the hire of a Credit Suisse banker. The wealth manager is part of a push to more forcefully win offshore business from China's wealthy.
Banque Internationale a Luxembourg, or BIL, is hiring Roger Groebli as its head of China, Hong Kong, and Taiwan, effective in November, a person familiar with the hire told finews.com. The Luxembourg-based private bank confirmed the Swiss banker is joining BIL.
Groebli is a veteran Swiss banker who left Geneva's Reyl in 2015 to run Credit Suisse's private bank for China out of Zurich. The Swiss bank expanded his remit in January, naming Groebli head of private banking for North Asia.
China Wealthy Push
BIL is owned by China's Legend Holdings, best known as the parent company of computer maker Lenovo. Besides growing in Switzerland, BIL Suisse is obviously targeting China's wealthy for offshore business as well.
«With his extensive knowledge of the Asian markets and his track record of successfully growing wealth management businesses, we are convinced Roger Groebli will help us strengthen our expertise on China, a strategic growth area for BIL,» the wealth manager's Swiss head, Thierry de Loriol, said in a statement.
