The World Bank in Luxembourg in Switzerland is profitable for the first time since its reorganization and has hired more executives, such as research by finews.ch Displays.
These are the Chinese Legend Collectibles controlled Banque Internationale a Luxembourg Suisse (BIL Suisse) Not only does he have a positive business result to show, but he has also held two key positions that are supposed to drive the growth that has been initiated.
On the one hand, the seasoned private banker is new to the board Nadia Bargatsi (photo above). She has held the position of Vice President of Wealth Management since February 2023, according to her research finews.ch open. She brings her diverse leadership qualities and extensive experience in taking care of private clients both in Switzerland and abroad. After many years at Credit Suisse (CS) and Julius Baer, she recently held senior positions in Quilvest and Decisive Capital Management, also finews.ch mentioned.
From Morgan Stanley to BIL Suisse
On the other hand, already in January 2023 Jutta Lackner (photo above) to BIL Suisse, where she has held the position of Vice President of Compliance since then. She recently returned to Switzerland after 14 years in Hong Kong and Singapore. After studying in Austria, I first worked at CS in Zurich before going to Asia. I have worked for Morgan Stanley in Singapore and Hong Kong for nearly 14 years.
In addition to managing wealth for individuals, BIL Suisse last year also strengthened its focus on corporate clients, which it supports with financing and loans as well as advice on mergers and acquisitions. The company benefits from the strong and substantial balance sheet of its parent company in Luxembourg. BIL is the most important bank in the Grand Duchy and therefore systematically important throughout the European Union. This gives it an important stability for business development.
First time profit
Under these premises, BIL Suisse managed to turn a profit of around 4 million francs for the first time in 2022, further research revealed. “We see the results of our repositioning and progress in development in private banking, but especially in business with international entrepreneurs and families,” he said. Hans Peter BurgCEO of BIL Suisse finews.ch.
The inflow of new money reached 321 million francs in 2022; Revenues amounted to 52 million francs, compared to 40 million francs a year earlier. In total, the institute has managed about 4 billion francs at the end of 2022; about the same last year. BIL Suisse employs about 70 people in Zurich, about 30 people in Geneva and six people in Lugano. At the end of March 2022, the bank moved from Beethovenstrasse to Bahnhofstrasse in Zurich.
A masterpiece address in the heart of Zurich
The move to the main address in the heart of Zurich was part of an overall investment program worth around CHF85 million the Chinese owners agreed to reposition the bank in Switzerland. The BIL group has been part of the Chinese for a good five years Legend Collectibles.
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