Geneva Cantonal Bank revamps its organizational structure
Published: Tuesday, Aug 27th 2024, 18:50
Updated At: Wednesday, Aug 28th 2024, 01:59
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The Cantonal Bank of Geneva is fundamentally changing its structure. It is realigning its organization, which was previously structured mainly along geographical lines, according to business areas. The restructuring will come into effect on September 1, 2024.
The Geneva business division will become the Individuals & Digital Banking division, as the cantonal bank announced in a press release on Tuesday evening. In addition to managing the network of 21 branches throughout the canton, the division's employees will be responsible for financing private clients in Switzerland, France and abroad.
The department is also responsible for the further development of the bank's digital offering. Pierrette Jaton Klopfenstein will take over the management of this department, it was reported.
In addition, the bank's corporate and trading activities will be combined in the Corporate Banking & Trade Finance division. Yves Spörri will take over the management of the division.
New business division
The bank is also creating the new Private Banking & Asset Management division. All wealth management activities will be bundled in this division, according to the statement. The division will also focus on independent asset managers and include the branches in Lausanne, Zurich and Basel as well as the representative offices in Hong Kong and Dubai. The division will be headed by Katia Coudray, who will join the BCGE Group as a member of the Executive Board.
Following the dissolution of the Asset Management and Corporate divisions, Urs Ziegler will act as Senior Adviser to the CEO and focus on accelerating the development of the bank's ESG approach. After 16 years with the bank, Virginie Fauveau will leave the BCGE Group to pursue a new career path.
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