Following Vontobel, another bank is moving its headquarters out of the city of Zurich and across the cantonal border. Cembra, however, is not heading to the canton of Zug, but to Aargau.

The new location will offer a modern, future-oriented working environment optimally tailored to the bank’s needs and its strategic development, Cembra, which is currently based in Zurich-Altstetten, said in a statement on Thursday. The move is scheduled for autumn 2027.

Modern, efficient and centrally located

Cembra will move into the Konnex building complex in the former Baden-Nord industrial district. The bank highlights the site’s modern infrastructure, contemporary building technology and energy-efficient operation. The space and usage concept is designed for today’s working models, while the location is central and offers excellent public transport connections.

Cembra CEO Holger Laubenthal commented: «We want to ensure that our working environment remains aligned with our corporate culture, our goals and the needs of our employees over the long term. With our new headquarters in Baden, we are creating the ideal conditions for this. We will continue to serve our customers through our five hubs and our partner network throughout Switzerland.»

Will politicians take notice – and act?

Cembra offers financing and payment solutions. Its product range includes personal loans and vehicle financing, credit cards, related insurance products, invoice financing and savings products. With around 800 employees, Cembra serves more than 2 million customers in Switzerland and works with credit card partners, independent intermediaries and car dealers. Its shares are listed on the SIX Swiss Exchange.

Although Cembra’s departure from Switzerland’s financial hub for a neighbouring canton is nowhere near the same scale as Vontobel’s decision, it is a worrying sign for the development of the city of Zurich’s attractiveness as a business location. It should give political decision-makers food for thought – and prompt them to take action.