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Swiss cantonal banks benefit from state guarantees and tax exemptions, saving hundreds of millions annually while depriving the Confederation of significant tax revenues. Despite these advantages, which do not translate to lower customer fees, reform efforts face strong political resistance, leaving the current model largely intact.
Susanne Thellung, former Chairwoman of the Executive Board at Schwyzer Kantonalbank (SZKB), is set to lead the new Private Clients business unit at Zürcher Kantonalbank. Michel Degen, the Deputy Chairman of the Executive Board, will assume the role of Chairman on an interim basis, bringing extensive experience from his previous positions at SZKB.
Zürcher Kantonalbank (ZKB) is restructuring its organization, creating a new "Private Clients" unit for customers with assets up to CHF 1 million, led by Susanne Thellung from June 2025. The "Private Banking" unit will focus on clients with complex needs, while the "Corporate Clients" unit will consolidate commercial clients for better service.
Zürcher Kantonalbank (ZKB) is restructuring its organization by creating a new "Private Clients" unit to serve customers with assets up to CHF 1 million, led by Susanne Thellung, currently head of SZKB. This change, effective November 2025, aims to provide uniform services across branches and digital channels. The restructuring also includes adjustments to the "Private Banking" and "Corporate Clients" units to enhance service delivery and consolidate client segments.
Zürcher Kantonalbank (ZKB) has launched a new private clients department, set to be led by former Schwyzer Kantonalbank CEO Susanne Thellung. Thellung will officially join ZKB on June 1 and assume management of the unit in November, which will cater to private clients with assets up to CHF 1 million through digital platforms and 51 physical branches.
Zürcher Kantonalbank has restructured its Private Banking division, introducing a new "Private Clients" unit for clients with assets up to 1 million Swiss francs, led by Susanne Thellung. Additionally, the Investment Solutions division will now be integrated into Private Banking, enhancing investment expertise under Florence Schnydrig Moser's leadership. The bank has also expanded its services to German clients, with Daniel Dätywler overseeing operations in Germany and Austria.
Susanne Thellung, the current CEO of Schwyzer Kantonalbank, will transition to Zürcher Kantonalbank (ZKB) on June 1, 2025. This move was confirmed in a press release from ZKB, marking a significant leadership change within the banking sector.
Zürcher Kantonalbank (ZKB) is restructuring to create a new "Private Clients" unit for clients with assets up to one million francs, effective November. Susanne Thellung, currently CEO of Schwyzer Kantonalbank, will lead this unit, enhancing the bank's focus on distinct customer segments. Meanwhile, Michel Degen has been appointed interim CEO of SZKB as the succession process begins.
DBS Group plans to cut around 4,000 temporary jobs over the next three years, with some tasks being automated through artificial intelligence. Meanwhile, Tesla's new registrations in Europe have halved despite a 33% increase in overall electric car sales. Zürcher Kantonalbank is restructuring to create a new "Private Clients" unit, appointing Susanne Thellung as head, effective June 1, 2025. The Swiss economy showed a slight growth of 0.5% in Q4 2024, while Raiffeisen Group reported lower profits due to changing interest rates.
Susanne Thellung has been appointed head of a new private banking division at Zürcher Kantonalbank (ZKB), focusing on clients with assets up to 1 million, effective November. This strategic move aims to capture the growing middle-rich segment, separating it from the existing Private Banking division led by Florence Schnydrig Moser, who retains her role but faces a significant reduction in clientele. Thellung's leadership is expected to enhance ZKB's competitive stance against UBS in Zurich's wealth management sector.
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