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CS Berner loses to competition from Liechtenstein

Bloodshed continues in Swiss private banking at Credit Suisse. A whole team moves to the Liechtenstein Princely Bank LGT at the Bern, Cave location He has an experience.

Six former private banking employees at Credit Suisse (CS) in Bern will start working at LGT in July and August. This was confirmed by Princely Bank on Wednesday.

Usually little movement

Accordingly, the team consists of several client advisors, an assistant and an investment advisor. Bankers at the Liechtenstein Institute will take care of clients with Swiss residence in the future, it was also said.

The departures at CS Bern also draw attention to the fact that the banking center there is small and family-like and entire teams rarely change employers. In light of the crisis situation and now with the sale to UBS, the centrifugal forces among the CS staff have increased dramatically. In the past few days, there have been reports of Swiss No. 2 departures from various Swiss regions, for example a summary.

Enterprise experts already brought in

On the occasion of the quarterly report last April, CS stated that the outflow of customer funds could not be stopped.

The team in Bern isn’t the first to turn to LGT. Obviously, the people of Liechtenstein, who have a good reputation in Switzerland, know how to pack in the big bank. Beside I reported, several specialists for enterprises jumped from CS to Fürstenbank last December.

What does Switzerland and its financial center need the most right now?

  • Rapid integration of CS into UBS.

  • The midrange of the Swiss CS.

  • Job security for customer service staff.

  • Bonus ceiling for senior management of banks.

  • Higher requirements for private funds.