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Zurich Cantonal Bank (ZKB) CEO Urs Baumann's total remuneration decreased slightly to 2.82 million Swiss francs in 2024, despite a rise in his fixed salary to one million francs. His bonus fell significantly from 1.46 million to 802,500 francs, reflecting a shift in the remuneration structure following political criticism. The total compensation for the ZKB Executive Board was 17.9 million francs, down from 18.9 million in 2023, while the bank's personnel expenses rose by 3.7% to 1.22 billion francs.
ZKB CEO Urs Baumann's total remuneration decreased slightly to CHF 2.82 million last year, with a notable shift in salary structure. His fixed salary increased to CHF 1 million, while variable bonuses dropped to just over CHF 800,000, reflecting a response to political criticism and an external review indicating that variable pay was too high. Overall, the bank's personnel expenses rose by 3.7% to CHF 1.22 billion, with an average salary of over CHF 210,000 for its 5,779 employees.
Management changes at Zürcher Kantonalbank (ZKB) have led to unrest, as CEO Urs Baumann, in his two and a half years in office, struggles to establish stability. His recent blunder at the annual results conference, confusing ZKB with Credit Suisse, has raised concerns about his leadership amid increasing negative headlines for the bank.
Mario Crameri has been appointed as the interim Head of IT, Operations, and Real Estate at Zurich Cantonal Bank (ZKB) following Remo Schmidli's departure after 24 years. Crameri, who has nearly thirty years of experience in IT at international banks, will oversee a department of over 1,000 IT specialists. Meanwhile, Berne Cantonal Bank is also seeking a new CIO to enhance its management team and connect with its IT subsidiary, Aity.
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.
ZKB is undergoing changes in its Executive Board as Stephanino Isele and Remo Schmidli announce their departures. Isele will leave in June 2026 as part of succession planning, while Schmidli's sudden exit is effective at the end of March. Florence Schnydrig Moser has been promoted to Deputy Chairwoman, set to take over Isele's role in July 2026, as the bank aims to expand its services for wealthy private clients.
Zürcher Kantonalbank will see significant changes in its Executive Board, with Stephanino Isele stepping down as Head of the Institutionals & Multinationals unit and Deputy Chairman by June 2026, as part of a succession plan. Florence Schnydrig Moser has been elected as the new Deputy Chairwoman, effective July 1, 2026. Additionally, Remo Schmidli, Head of IT, will leave the bank on March 31, 2025, after 24 years of service.
Beate Eckhardt has been appointed as the first external member of the ZKB Philanthropy Foundation's Board of Trustees, bringing over 25 years of experience in philanthropy. Meanwhile, the UBS Cultural Foundation is undergoing a personnel renewal, with Katrin Renz and René Scheu joining its Board of Trustees, replacing outgoing members.
Postfinance aims to lift its credit ban to address the lending gap for internationally active SMEs left by the collapse of Credit Suisse. The new CEO, Beat Röthlisberger, advocates for Postfinance's role in corporate financing, emphasizing the need for a systemically important Swiss bank to support medium-sized companies. However, achieving this requires amending the Postal Organization Act and enhancing risk management capabilities.
Beat Röthlisberger, head of Postfinance, aims to invest CHF 25 billion in Swiss SMEs to fill the financing gap left by Credit Suisse's collapse. However, he requires political support to amend the Postal Organization Act, which currently prohibits Postfinance from granting corporate loans. Despite structural challenges, Röthlisberger believes this move could enhance competition and provide reasonably priced financing for SMEs.
Urs Baumann
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