A heavyweight U.S. financial firm snagged the high-profile former UBS and Credit Suisse banker to run its business in Switzerland.
Bosten-based State Street is naming Dagmar Kamber Borens as its Swiss country head, effective immediately, according to its website. She appears to replace Markus Steiner, who has held the job since 2013.
Kamber Borens is a banking veteran who spent 17 years at UBS, where she was made a managing director in 2008 when she worked as then-finance chief John Cryan's chief of staff. In 2016, she defected for Credit Suisse's domestic arm before a partial stock listing which was later scotched.
Recent CEO Job
She was most recently the CEO of Quintet's business in Switzerland, a job she left abruptly following the death last year of Juerg Zeltner, the reincarnated Luxembourg wealth manager's guiding spirit.
Kamber Borens, who holds a doctorate in law, will oversee roughly 100 employees of the Swiss-regulated bank which mainly caters to institutional clientele like pension funds. A spokeswoman for State Street didn't comment on the handover.
Wider Change Plan
The $3.9 trillion-asset firm is undergoing a reorganization: it is reportedly mulling options for its asset management arm including talks with UBS, in a focusing of its business. State Street also recently beginning major job cuts in the U.S.
More to follow
