A Cantonal Bank Taps UBS Banker to Serve its Wealthy Clients

The Berner Kantonalbank announces a new addition to its management team. A former UBS manager becomes responsible for high-net-worth private clients.

Berner Kantonalbank (BEKB) appoints Domenico Sottile as the new head of the Key Clients and Asset Management department and elected him to the Executive Board. In his new role, he assumes responsibility for high-net-worth private clients, professional investors, and larger corporate clients, according to a statement (in German) Wednesday.

Sottile comes from UBS, responsible for wealth management in the Solothurn area. He looks back on a long career in private banking, working at Vontobel investment banking from 2016 to 2018. Before that, he was also at UBS in various roles beginning in 2006.

He joins BEKB by December 1 at the latest. With his many years of experience, he is expected to ambitiously develop the Key Clients and Asset Management department and align it even more closely with the needs of clients, according to BEKB.

More Assets to Manage

The bank's profits for the first half increased by 14.6 percent to 75.6 million Swiss francs ($86.4 million). Sottile will have more assets to manage, with BEKB reporting an increase in assets under management to 40.6 billion francs, up 4 percent from 39.0 billion at the end of last year.