ZKB opens sales office in Lausanne
Published: Tuesday, Jan 30th 2024, 09:10
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Zürcher Kantonalbank is expanding into French-speaking Switzerland. Switzerland's largest cantonal bank is opening a sales office in Lausanne. The aim is to further expand its business with pension funds and institutional clients in French-speaking Switzerland.
With the new representative office in French-speaking Switzerland and the addition of three advisors, ZKB wants to move closer to existing and future customers, according to a press release issued by the cantonal bank on Tuesday. The French-speaking part of Switzerland offers "attractive growth potential" for ZKB. The new branch is the first physical representation of ZKB in another Swiss canton.
ZKB's move into French-speaking Switzerland is not least a reaction to the takeover of Credit Suisse by UBS. In a changed competitive environment with only one major bank, ZKB is a "professional and competent alternative", Heini Dändliker, Head of Key Account Management and Corporate Clients Market Switzerland, is quoted in the press release. "The need for a second strong provider is very noticeable, especially in French-speaking Switzerland." According to an article in the NZZ on Tuesday, two advisors are moving from Credit Suisse to ZKB.
Further branches in other cantons are apparently not planned, as Jürg Bühlmann, Head of Corporate Clients, explained to the NZZ. In particular, ZKB will continue to refrain from opening branches in other cantons and will not compete with other cantonal banks, for example in business with SMEs. "Most cantonal banks do not offer our services for pension funds at all,"
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