A former top Deutsche Bank private banker and a partner are taking over a Swiss industrials firm, as part of a succession plan.
Peter Hinder dropped out of sight after leaving the German lender just over two years ago, as finews.com reported. The Swiss banker and a partner are buying 100 percent of the shares in Abifor, which produce thermoplastic hot-melt adhesives, according to a statement on the Zurich-based company's website.
Hinder will run Abifor after he and the partner, operating chief Markus Kohlhof, take over. The company's financials aren't public. The move mirrors that of Barend Fruithof, a top Credit Suisse banker who left finance four years ago to invest in and run a firm which makes agricultural machinery.
One Foot In Finance
Like Fruithof, Hinder is keeping one foot in finance: he remains an adviser to Lend, a fintech marketplace for loans. The CEO of a Swiss cantonal bank until 2015, Hinder rose to wider prominence after joining Deutsche Bank in 2015. He began as the chief of staff to Christian Sewing, then the bank’s head of corporate clients.
Sewing, who advanced to CEO of Deutsche three years later, tasked Hinder with running Deutsche's private bank in wider Europe and the Middle East as well as CEO of Switzerland. Hinder left the German lender after much of his wealth job was reorganized. Since mid-2019, he has advised family businesses and consulted.
