Van Lanschot Kempen, a Dutch private bank, has appointed Simon Grossenbacher as its new Chief Operating Officer (COO) and Chief Financial Officer (CFO) in order to strengthen its presence in Switzerland.
Grossenbacher, a seasoned banker with over 27 years of experience, will officially join the bank in December 2024 and assume his new roles in February 2025, pending official approval. He has previously held various management positions at UBS and most recently served as CEO of Sound Capital.
Grossenbacher's appointment is seen as a significant step for Van Lanschot Kempen as it seeks to enhance its profile and operational capabilities in the competitive Swiss market. The bank aims to achieve an average annual growth of around 10 percent in assets under management (AuM) by 2027 through a combination of organic and inorganic growth strategies. To support this growth, Van Lanschot Kempen plans to refine its cost/income ratio from the current 70 percent to a target range of 67-70 percent.
The appointment of Grossenbacher is expected to facilitate a smoother transition for the bank as it navigates the changing financial services industry. With his expertise in managing complex financial operations and driving growth initiatives, Grossenbacher will play a crucial role in aligning the bank's operational strategies with its growth ambitions in Switzerland.