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EFG International has welcomed four former XP advisors—Thiago Favery, Raphael Pinheiro, Fernando Olea, and Felipe Sebe—who manage a combined $3.5 billion portfolio, to enhance its private banking services for high-net-worth Brazilian clients. They will officially join the Miami office after their non-compete period ends in December. EFG, a leading Swiss private banking group, manages assets of CHF 160 billion and is recognized for its personalized wealth management solutions.
Frédéric Rochat, Managing Partner at Lombard Odier, discusses the firm's long-term investment strategy amid declining profits and industry challenges. He expresses concern over the proposed inheritance tax initiative in Switzerland, warning it could destabilize the economy by forcing entrepreneurs to relocate or liquidate their businesses. Rochat emphasizes the importance of preserving Switzerland's balanced economic model, which supports both large corporations and small to medium-sized enterprises.
DKSH Holding AG, with a market cap of CHF 4.18 billion, reported a net income of CHF 111.2 million for H1 2024, despite a slight sales dip. Its dividend yield stands at 3.5%, supported by a 77% payout ratio. In contrast, EFG International AG offers a higher dividend yield of 4.82% and a net income of CHF 162.8 million, reflecting strong performance in the financial sector.
Roman Pfranger, 37, has been appointed CEO of Neue Bank, Liechtenstein's fourth-largest bank, effective end of January, following a 15-month leadership gap. With over 15 years of experience in Vaduz, he aims to leverage the bank's strengths for future growth alongside a stable executive team. Under his leadership, Neue Bank, managing 6.8 billion francs in assets, seeks to enhance its operational success and ambitious plans.
David Howaldt has been appointed as a senior client adviser for intermediaries at VP Bank, based in Zurich. He joined the bank in September and is tasked with relationship management and developing partnerships with intermediaries, reporting to René Schibler, head of intermediaries EU/CH.
Berner Kantonalbank experienced a negative return of -2.52% last year, significantly underperforming the financial sector average. Despite this, recent social media sentiment has turned positive, leading to a "Good" rating for investor sentiment, while technical analysis remains "Neutral." Shareholders are urged to consider their options as new analysis suggests an urgent need for action.
IG Group has expanded its presence in Switzerland by opening a new office in Zurich, enhancing its commitment to the Swiss financial center and catering to a sophisticated customer base. CEO Fouad Bajjali emphasized the unique offerings of IG Bank, which differentiates itself from traditional Swiss banks by focusing on customer needs and providing tailored services for both retail and institutional clients. This strategic move positions IG Bank to better serve its growing clientele in the German-speaking region, leveraging its global expertise in trading.
Luzerner Kantonalbank's share price has plummeted from CHF 105.40 in 2018 to CHF 62.70, raising concerns among middle-class politicians. FDP cantonal councillor Thomas Meier has questioned the cantonal government about the bank's dividend policy and the lack of government representation on its Board of Directors, despite the canton holding a significant stake.
Luzerner Kantonalbank (LUKB) shares have been on a downward trend for years, prompting political intervention. In a recent column, financial commentator Michael Föhn highlights the concerns of local shareholders, including a small investor from Lucerne, Mr. Hugentobler.
In August, the Homegate rent index in Switzerland decreased by 0.8 points to 127.9%, although it still reflects a year-on-year increase of 4.2%. Notable exceptions to this trend included Graubünden and Zug, which saw month-on-month increases, while urban centers like Zurich experienced minimal growth and declines were noted in Geneva, Lausanne, Berne, and St. Gallen.
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