The Swiss bank is appointing a new head for a fledgling push with wealthy entrepreneurs and top executives in Switzerland.
Credit Suisse is appointing Hans Baumgartner as head of its entrepreneurs and executives desk, a team within its Swiss wealth management business, the bank said in an emailed statement on Thursday. Baumgartner takes over from Andreas Arni, who defected to a high-profile job at Lombard Odier last year.
In turn, Baumgartner hands over his current job as head of private clients in central Zurich to Sabine Heller (pictured below). His appointment is a surprise in that initially, Credit Suisse said it wouldn't replace Arni after his departure. The bank dispatched the team of some 90 advisers in the segment to regional units instead.
Veteran Bankers
The so-called E&E push is a focus of growth for Credit Suisse's domestic arm. The team is meant to boost growth in Switzerland and expand the product offering for the bank’s clients.
Now tasked with the unit, Baumgartner is a 30-year veteran of Credit Suisse who previously oversaw wealth management clients in central Switzerland and was responsible for small- and mid-sized clients in corporate banking.
Heller, his successor, is a 20-year Credit Suisse veteran. She has been head of Swiss clients who are staff of Credit Suisse since 2016, a business she built up.
