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Credit Suisse reorganizes the Swiss entity

Credit Suisse reorganizes the Swiss entity

André Helfenstein, President of Credit Suisse Switzerland, is reorganizing his company and has great responsibility for one of the most important areas within the group. And not only that: There are also some personnel changes, such as He has experience.

As part of the reorganization announced last December, there are also some changes within Credit Suisse (CS), such as He has experience. The focus is on private banking, that is, dealing with clients who hold between 250,000 and several million francs in custody assets.

Swiss Private Banking, which is part of the Wealth Management (WM) division, headed by Francesco Deferrari It was supposed to be merged, it will be incorporated into the “Swiss Bank” from April 2022, which also includes business with individual, corporate and institutional clients.

outside the swiss bank

This can be found in an internal note where He has insight. Responsible for this field will continue Serge Fehr Be the primary future Andrei HelvensteinCEO of the Swiss Bank and the District of Switzerland, will report, but also has a seat on the WM management team.

“We have come to the conclusion that servicing private banking clients from within the Swiss bank is the best way to leverage our strengths and realize our strategic ambitions,” Helfenstein wrote in the note. However, there will be close collaboration with WM in the areas of investment products, IT investments and digital innovation, as learned.

New Head of Technology

In retail banking, the various sales channels – physical, telephone and digital – are combined into a single business area, which in the future – under the name of personal and business banking – will be managed by Ann Bridge HawksResponsible.

In addition, the CS Kirsten Rayner (photo below) Appointment of the Head of the Department of Technology and Information (CTIO) for Switzerland. In this position, you also transfer to the management of the «Swiss Bank». This means that in the future CS will have its own IT Officer at the senior management level in Switzerland.

(Photo: Credit Suisse)

New Products Unit

In addition, the areas of product development currently existing in digital banking will be transferred to a new unit called Products and Strategy, which will be led by Martin Mindy will stand.

After all, most of the teams in the (sales) SUB Sales & GTS Switzerland area will become part of a wealth management or investment bank in the future, as has been learned further. In contrast, employees working in the field of pensions and corporations with foundations remain in the “Swiss Bank”.

A new mission is still open

As a result of these changes occur Damien Hope, who previously ran the now-dissolved SUB Sales & GTS Switzerland division, has resigned from managing Credit Suisse (Switzerland). His future role is still open.

Will President Axel Lehmann and CEO Thomas Gotstein succeed in putting Credit Suisse back on the path to success?

  • Yes, nothing can go wrong with two Swiss people.

  • Yes, but that takes at least three years.

  • Even with these two managers, everything remains the same.

  • No, Thomas Gotstein has to go first.

  • No, Credit Suisse can no longer be helped.