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The 2024 reporting season for Swiss private banks reveals varied performances amid favorable global market conditions. Julius Bär led in assets under management growth at 16.4%, while EFG topped net new money inflows at 7.1%. Vontobel achieved a notable 34% increase in pre-tax profit, contrasting with Lombard Odier's 19% profit decline.
Frédéric-Charles Bois, the former chief investment officer of Société Générale Private Banking Switzerland, has joined UBS as a senior portfolio manager. Bois, who has expertise in asset allocation and hedge funds, was previously promoted to CIO in January 2024 before leaving following the sale of the unit to Union Bancaire Privée. His career includes roles at Credit Suisse Asset Management and Aberdeen Asset Management, starting at Edmond de Rothschild in 2006.
Zwei Wealth has opened a new office in Geneva, led by seasoned banker Thierry Cherf, who brings 25 years of experience from various Swiss private banks. The firm, which has evolved from an advisory service to a comprehensive wealth management ecosystem, now manages over CHF 11 billion in assets and is actively seeking to expand its team with more than ten new advisors by 2025.
Zwei Wealth has opened a new office in Geneva, led by seasoned banker Thierry Cherf, who brings 25 years of experience from various Swiss private banks. The firm, which has evolved from an advisory service to a comprehensive wealth management ecosystem, now manages over 11 billion Swiss francs in assets and is actively seeking to expand its team with more than ten new advisors by 2025.
UBP anticipates a return of inflation by 2025, with global economic growth projected at 3.1%. While the US economy is expected to benefit from strong private consumption and fiscal measures, inflationary pressures may arise from wage increases and tariffs. In Europe, growth will be uneven, with southern countries leading, while Switzerland is forecasted to grow at 1.3%.
UBS Private Wealth Management has welcomed the financial advisor team AMD Wealth Partners, led by Ary Velasco, Michael von Borsig, and David Cardenas, to its Miami office. The team, with nearly 80 years of combined experience, previously managed over $1.4 billion in client assets and is committed to providing personalized financial solutions. Velasco, with nearly four decades in the industry, and von Borsig, with two decades of experience, bring extensive expertise from prestigious firms, enhancing UBS's offerings in the region.
UNION BANCAIRE PRIVEE, UBP SA
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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