ZKB takes over Complementa
Published: Monday, Jul 29th 2024, 16:10
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Zürcher Kantonalbank (ZKB) has acquired Complementa AG, based in St. Gallen. The company specializes in investment reporting services. For example, it regularly produces studies on the situation of Swiss pension funds.
Complementa will remain an independent company, ZKB announced on Monday. The employees will retain their functions and the primary location will remain in St. Gallen. There are no plans to cut jobs or transfer tasks to ZKB. No financial details were disclosed.
With the purchase, the bank is strengthening its Custody Services division. It intends to invest in this service offering, which is mainly used by institutional clients. In addition to the global safekeeping and administration of assets, the division also includes independent investment reporting, which Kantonalbank has been providing to its custody clients in cooperation with Complementa since 2006.
The acquisition will also settle the succession of current Complementa CEO Heinz Rothacher, the statement continued. He will be available to the company as a member of the Board of Directors from September 1, 2024. At the same time, Markus Wirth, currently Head of Custody at ZKB, will join Complementa as the new CEO.
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