Zuercher Kantonalbank is hiring a former Credit Suisse top executive as its new head of private banking.
The Zurich-based lender is appointing Florence Schnydrig Moser as its head of private banking, effective May 1, it said in an emailed statement on Thursday. She replaces Christoph Weber, a Swiss banker whose departure finews.com reported exclusively last month.
Schnydrig Moser is a Swiss banking heavyweight: she has run Swisscard AECS, a Swiss credit card firm co-owned by Credit Suisse and American Express, for the last two years. Previously, she part of Credit Suisse's top Swiss team. Her 17 years at the bank had taken the 47-year-old Swiss native to Hong Kong and Australia in both wealth management and investment banking roles.
Small Fry Vs Credit Suisse
Schnydrig Moser, who joins ZKB from January 1, represents a much-needed diversification of the local government-backed lender's C-suite: six of eight top managers are 58 or older; all are Swiss men and few of them have worked abroad. She is the second Credit Suisse banker ZKB has poached in short order.
ZKB doesn't disclose its assets in private banking, but it is small fry compared to Credit Suisse: at the end of 2019, ZKB's client funds slipped to 63.8 billion Swiss francs ($67 billion), of which a fraction is offshore clients. The local lender has in recent years poured money into the Austrian market, where it now employs roughly 100 staff.
New Impulses for ZKB
Weber and Schnydrig Moser will work together for the first three months of next year, in a transition period. She began her career as a trainee at UBS after graduating with a degree in math from Lausanne's prestigious technical university EPFL.
A CFA charterholder, she is also vice-president of Advance, a Swiss network of women in business. «Florence Schnydrig's vast experience in several areas of banking and finance is ideal to lead the private banking unit strategically and organizationally as well as to provide new impulses,» CEO Martin Scholl said.
