CS team has already left: UBS is now losing its own bankers in the luxury ski resort of Gstaad

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UBS has suffered another setback in the battle to make big money among the richest in the luxury ski resort Gstaad BE. Three UBS client advisors there are leaving their wealthy clients and moving to Berner Kantonalbank (BEKB), Swiss financial portal finews.ch reports.

According to the report, migrating bankers will start working for their new employers in June. Your mission is BEKB’s mission to St. Petersburg in the Bernese Oberland. Moritz to rebuild its business with wealthy private clients.

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The new UBS had already had to cope with staff reductions in Gstaad last year. Current UBS subsidiary Credit Suisse (CS) lost its entire private banking team in September 2023. These were all moved to rival EFG International. The six-member team has been working operationally for the private bank in the luxury city of Zurich since the beginning of the year. As Finews.ch reported, CS responded to the departures by entrusting the Gstaad positions to a tried and tested man from the top management.

Meanwhile, UBS threatens to face further problems in the Bernese Oberland. According to the portal, customer advisors at the Thun location are also considering changing employers. It is unknown which bank they can switch to.

Since the merger of the two major banks to form the new UBS, each has had to accept various deviations in its private client business in the Berne region and Mittelland, affecting CS bankers. Many private bankers, apparently distrustful of UBS’s merger project, have registered with Liechtenstein Fürstenbank LGT or Vontobel bank, among others. Even “their” customer advisors no longer seem convinced about the big bank’s merger. (moon)

Source :Blick

Tim

I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.