Credit Suisse wants to be the bank of entrepreneurs. Nevertheless, Swiss Corporate Banking has not been spared from restructuring, as finews.com has learned.
Business with local companies is undoubtedly one of the strengths of crisis-ridden Credit Suisse, and it is no coincidence the bank, founded by railroad pioneer Alfred Escher as Schweizerische Kreditanstalt (SKA), sees itself as the «bank of entrepreneurs.»
Nevertheless, Swiss Corporate Banking has not been spared during its restructuring, Credit Suisse confirmed to finews.com. Following recent appointments in the closely related institutional business, the division is being restructured both organizationally and geographically, with changes taking place as of April 1.
Three Major Regions
Accordingly, the SME business will be divided into three major regions: German-speaking Switzerland, French-speaking Switzerland, and Italian-speaking Ticino. All will report directly to Andreas Gerber, head of corporate clients in Switzerland and member of the Executive Board of Credit Suisse Switzerland.
The existing regions and market areas will remain unchanged in organizational terms and will become part of their respective new large region. The German-speaking region of Switzerland will in the future comprise the regions of Aargau, Mittelland, Northwestern Switzerland, Eastern Switzerland, Central Switzerland, and Zurich. The market areas of Geneva, Vaud, Fribourg, Valais, and Jura fall under Western Switzerland. Ticino continues to consist of Lugano, Chiasso, and Sopra Ceneri. The major regions will also be placed under new management.
Oliver Banz, who heads the SME business in the Zurich region, will take over the German-speaking part of Switzerland. His earlier career includes the ultra-wealthy business of local rival UBS.
Martial Décoppet, currently head of the SME business Suisse Romande, will be responsible for the new Western Switzerland region and has been with the bank since 2009.
Marzio Grassi, also a Credit Suisse veteran with a lot of influence in the southern canton, will continue to head the existing Ticino region.
New COO Appointed
The product area within corporate banking falls under the supervision of Christoph Baggenstos, head of SMEs for central Switzerland since 2016. Meanwhile, the operational management (COO) of corporate banking will be newly held by Amélie Laing. She currently acts as head of business development & corporate banking initiatives in trade finance.
«The organizational changes will enable us to focus on customer needs in the best possible way. I am very pleased that we have been able to fill all positions in the new structure with long-standing managers who not only bring the necessary experience and expertise but also ensure continuity and thus optimum service for our clientele,» Gerber said of the reorganization.
Source: Fi News