Scandal at Sound Capital: CEO leaves unexpectedly

The longtime UBS banker should have led the Zurich asset manager to new heights. He is now leaving the company unexpectedly and abruptly, according to research he conducted finews.ch Displays.

He worked as an independent asset manager Sound Capital Also for repair finews.ch mentioned. But now, just a year and a half later, it has happened Simon Grossenbacher He resigned from his position completely unexpectedly at the end of 2023. This is what the research found finews.ch Like a post on the online service Linkedin.

Grossenbacher joins the Zurich-based company from UBS. The 41-year-old, from Bern, has worked at a major bank for about 25 years, in various leadership positions. He started out as a “pen” in Bern, then worked in private banking looking after markets such as Turkey, Israel and Greece. He recently took up a management position at the Global Banking Group’s Swiss Reservation Centre.

Strange timing

Grossenbacher’s departure comes at a very strange time. Sound Capital could have taken off next year, so to speak, after the company obtained a Finma license and withdrew completely from working with Russian clients; The latter after one of Sound Capital’s former founding members was named as part of “secondary” US sanctions.

His name appears on the lists of the Office of Foreign Assets Control (OFAC) of the US Treasury. This was referred to in the context of a trust company from Liechtenstein providing services to sanctioned Russian oligarchs. Alisher Usmanov should be provided. Sound Capital then suspended the partner and revoked his signature authorization.

Climb more peaks

At the moment, it is unclear what the exact motivations for Grossenbacher’s sudden departure are. It would not be surprising if he resurfaced at UBS, especially since he worked there for nearly a quarter of a century. It is officially said that after recently completing his additional training for the MBA program at ETH Zurich/University of St. Gallen (HSG), made the decision to “explore new career horizons.”

A month ago, he announced to his circle of friends: “Now (after graduation) I feel ready to climb more peaks!”

Grossenbacher’s resignation will initially fill the vacancy “as part of the professional replacement and succession process.” Oliver SchmidAnd we learned more. He was previously Chief Operating Officer (COO) and therefore has the necessary experience and qualifications to continue running the company today.

Metropole Partners becomes Sound Capital

Independent asset manager Sound Capital celebrated its 10th anniversary last year – founded in 2012 as Metropol Partners, some of the most successful client advisors from Credit Suisse’s Clariden Leu have found themselves there under its patronage. Anthony Caggiatti together.

In 2014 the name was changed to Sound Capital. According to its own information, the company now has just over 50 employees and manages client assets worth CHF4 billion.