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Manuel Rybach has been appointed as the new CEO of the Swiss Association of Asset Management and Private Banking (VAV), effective January 1, 2025, succeeding Pascal Gentinetta. Rybach, currently Chief Corporate Affairs Officer at EFG International, brings extensive experience in public policy and regulatory affairs from his previous role at Credit Suisse. Under Gentinetta's leadership, VAV has strengthened its position as a key representative for wealth management banks in Switzerland, managing over 1.2 trillion francs in assets.
Willbe, a digital asset management service by Liechtensteinische Landesbank, offers a call deposit account with competitive interest rates: 3.30% for euros, 4.25% for US dollars, and 0.85% for Swiss francs, applicable up to 50,000 euros. The account features quarterly interest crediting and is suitable for investors seeking flexibility and sustainability. Customers benefit from statutory deposit protection up to CHF 100,000 and can manage their accounts via an app.
The canton of Lucerne is experiencing a significant rise in demand for housing, leading to a decrease in available rental apartments. As a result, advertised rental prices have surged by 10 percent compared to the previous year, indicating a tightening real estate market.
Martin Schlegel, the new CEO of the Swiss National Bank, highlighted significant geopolitical risks during his inaugural speech in Bellinzona, predicting subdued economic growth and a GDP increase of just 1% for the year, below the long-term average. His visit to Ticino was met with pride from local officials, reflecting the region's support for his leadership.
The SPI index fell by 0.24% to 16,092.74 points, reflecting a 1.04% decline since the start of the week. Year-to-date, the index has risen by 10.45%, with a high of 16,557.98 points and a low of 14,455.60 points recorded this year. Top performers include Schlatter Industries and EFG International, while HOCHDORF and DocMorris faced significant losses.
Mathias P. Rohr has been appointed as the new Head of Institutional Clients at Schwyzer Kantonalbank (SZKB), effective October 1, 2024. With over 20 years of experience in the financial sector, he aims to enhance the bank's services for pension funds, foundations, and church institutions. Rohr previously held senior roles at ZWEI Wealth Experts AG and UBS, focusing on institutional client development.
EFG International's Liechtenstein branch has welcomed four former client advisors from Banque Havilland, following the latter's decision to cease operations and enter voluntary liquidation. The new hires, including Metin Emer, Matthias Delvavier, Daniel Gunsch, and Raphaela Dietsche, will report directly to CEO Tobias Wehrli. The potential for an asset deal remains uncertain, as EFG International has not commented further on the situation.
The Federal Criminal Court is hearing an appeal involving UBS, which has taken over Credit Suisse following its merger. The case stems from a 2022 ruling that found a former CS employee guilty of laundering drug money, but UBS argues it cannot be convicted without a living accused. The court's decision on UBS's request to suspend proceedings is pending.
An appeal trial regarding money laundering linked to the Bulgarian mafia commenced at the Federal Criminal Court in Bellinzona, with UBS now facing charges after the conviction of Credit Suisse. The court previously ordered Credit Suisse to pay a fine of 2 million francs and 19 million in compensation for aiding Evelin Banev's criminal network. UBS has sought to suspend the appeal process, arguing that the demise of Credit Suisse should absolve it of responsibility, a claim rejected by the Court of Appeals.
UBS has taken over Credit Suisse's role in the appeal against a CHF 2 million judgment related to the "Bulgarian Connection" money laundering trial, which began at the Federal Criminal Court in Bellinzona. The proceedings were marked by UBS's preliminary requests to suspend and close the case. Credit Suisse had previously appealed the initial ruling in late 2023, alongside two other defendants and the Swiss Federal Prosecutor's Office.
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wealth management bank appoints manuel rybach as new ceo effective 2025
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09:00 02.10.2024
exploring call deposit accounts and sustainable investment options with willbe
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rising demand drives up rental prices in lucerne real estate market
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new snb president highlights high geopolitical risks and subdued growth outlook
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