Lienhardt & Partner, a well-known financial firm, is strategically expanding its private banking services in Bern.
To lead this initiative, the firm has appointed Prusho Ponniah, an experienced banker from Credit Suisse and J.P. Morgan.
This move aligns with the bank's goal of tapping into the potential of the Bern market, which has traditionally focused more on pensions than private banking.
Lienhardt & Partner, founded in 1868, has a unique business model that combines private banking with real estate investment.
The firm stands out from traditional financial institutions due to its significant real estate portfolio.
Under the leadership of CEO Duri Prader, who has been in charge since 2013, the bank is well-positioned for growth in the private banking sector, particularly in Bern.
The bank's interest in expanding its private banking services is not new.
In 2012, Lienhardt & Partner acquired Pioneer Investment AG, a pensions-focused firm based in Bern.
While this acquisition laid the foundation for their presence in the city, the recent hiring of Ponniah signifies a significant shift towards a more comprehensive private banking approach.
Ponniah, with deep roots in Bern, brings extensive knowledge and a strong network that includes many local entrepreneurs, a key target for the bank's growth strategy.
Ponniah's career trajectory is notable, transitioning from an electrical planner to a financial consultant and eventually entering the banking sector.
His experience at Credit Suisse included roles in Retail Banking and International Private Banking, where he served high-net-worth individuals and institutional clients in the Middle East.
Lienhardt & Partner's growth strategy will focus on organic development rather than aggressive recruitment campaigns.
The bank aims to establish a strong presence in the Mittelland region and western Switzerland by leveraging Ponniah's local connections and expertise.
This approach reflects a broader trend in the financial industry, where sustainable growth is prioritized over rapid expansion through acquisitions.
Despite the competitive landscape that includes established players like UBS and Berner Kantonalbank, Lienhardt & Partner remains optimistic about its prospects.
The bank is one of three smaller private banks in Bern, alongside Von Graffenried and Zähringer Privatbank.
The presence of these institutions indicates a growing interest in private banking services within the city, which could benefit Lienhardt & Partner as it seeks to carve out its niche.
Lienhardt & Partner has reported positive financial performance in the first half of the year, with income growth across all business areas.
The bank achieved a half-year profit of CHF 5.9 million, a significant increase of nearly 40 percent compared to the same period last year.
This financial success highlights the effectiveness of the bank's strategic initiatives and its potential for continued growth in the private banking sector.
Prader and Ponniah are confident that Lienhardt & Partner's unique positioning and commitment to organic growth will enable the bank to thrive in Bern's evolving financial landscape.
As the bank continues to build on its legacy and expand its services, it remains focused on meeting the needs of its clients while navigating the complexities of the modern banking environment.