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Vontobel has appointed Marcel Räber as the new head of Private Clients for Central Switzerland, transitioning from his role at Luzerner Kantonalbank. He will officially assume his position on the 1st of the upcoming month.
Vontobel has appointed Marcel Räber as the new Head of Private Clients Central Switzerland, effective January 1, 2025. Räber, who has over 25 years of experience at Luzerner Kantonalbank, will oversee private client teams in Lucerne and drive expansion in the segment. He succeeds Andreas Weingartner, who will focus on his role as Senior Relationship Manager.
Ten years ago, Luzerner Kantonalbank shares were priced at CHF 63.80. An investment of CHF 1,000 would have yielded 15,674 shares, now valued at CHF 1,029.75, reflecting a 2.98% increase. The bank's current market value stands at CHF 3.24 billion.
Swiss banks are largely missing out on the cryptocurrency trend, despite a significant portion of the population investing in Bitcoin and Ethereum. While some cantonal banks and Postfinance offer direct purchases, major institutions like UBS and Pictet remain skeptical, limiting their involvement to ETFs. This cautious approach contrasts with the growing interest among younger investors, who often turn to foreign platforms for their crypto transactions.
Wyden has secured $16.9 million in a Series B funding round led by Truffle Capital, aiming to expand its digital asset services for banks, brokers, and exchanges. The company plans to integrate up to 20 new partners by 2025, focusing on markets with stringent regulatory frameworks, while enhancing its workforce and product development, particularly with its Wyden Infinity platform. This investment positions Wyden as a leader in institutional digital asset trading infrastructure, catering to the evolving needs of financial institutions.
Reto Schiltknecht, a former Finma member, emphasizes the need for cantonal banks to assess their risk exposure and develop crisis plans, particularly highlighting the Luzerner Kantonalbank's significant burden on the canton of Lucerne. In contrast, the Berner Kantonalbank poses a lower risk, illustrating the importance of tailored risk analysis for each bank. He advocates for proactive measures, including strengthening capital bases and preparing for potential crises, to ensure the stability of these key financial institutions.
Luzerner Kantonalbank"s share price has underperformed compared to other cantonal banks, prompting political discussions about the Canton of Lucerne potentially reducing its stake from 61.5% to a minimum of 51%. Factors contributing to the decline include a delayed capital increase and a low free float of around 40%. While the government currently plans to maintain its stake, a revision of the ownership strategy is expected by summer 2025.
Thomas Meier, a cantonal councillor, has initiated a discussion regarding the canton’s 51 percent stake in Luzerner Kantonalbank. The Lucerne cantonal government has promptly addressed his inquiries about the bank"s share price, but Meier believes the conversation should continue.
Bernard Kobler, CEO of Luzerner Kantonalbank, emphasizes the implementation of stricter mortgage regulations compared to those set by the National Bank. In an interview with "Finanz und Wirtschaft," he discusses the bank's commitment to maintaining robust financial standards.
Wyden, a Zurich-based digital asset trading company, has raised €15.9 million in a Series B funding round led by Truffle Capital, with participation from PostFinance and others. The funds will be used to expand into new markets and enhance services for banks and brokers, aiming to onboard 20 additional partners by 2025. The company recently launched Wyden Infinity, a cloud-native trading system designed for institutional clients, positioning itself as a leader in digital asset trading infrastructure.
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