“Porky” At the afternoon party, Francesca swooned

Last Thursday the monthly Chamber Music Luncheon took place in beautiful Zurich’s Tonhalle.

The newly elected chief investment officer at Noch-Credit Suisse was among the attentive listeners.

His name is Burkhard Farnholt and he inherited the place from Michael Strobeck, who left for Lombard Odiers.

Farnholt now has to keep the forces together. It remains to be seen if the classic sounds will help the ear.

In any case, the highest bank of Paradeplatz is rare.

An insider said Francesca McDonagh, the chief operating officer, had not been seen at the site in some time.

The member of the management of the fixed group of the CS does not belong to the future supreme forces of the expanded UBS.

Anyway, the manager, who recently came to CS for a lot of money and owns zero shares in her employer at the end of 2022, has not been promoted to UBS group management.

It’s hard to tell from the outside if it’s moving too fast because of this.

In the CS media office, no one wanted to hear about a request about this yesterday.

According to the information provider, CS head “office manager” Axel Lehmann tries to keep the back office area running fairly fully.

According to the concept, the senior management staff leaves the team to its fate.

For CS staff, these shift weeks – from Old CS to New UBS – will be an extraterrestrial experience.

Big bosses Iqbal Khan, Sabine Keller Busse and Andre Helfenstein are having fun at town halls, an observer said in a presentation two weeks ago.

Senior people laughed throughout the show.

At the same time, they announced radical things from the rostrum, that all wealthy private banking has no strategic importance in the expanded UBS.

The focus is on patronizing the wealthy – the ‘poor’ clients have to put up with regular offerings.

For the wealth advisors concerned, this does not bode well for their progress.