Zug CS team quits and moves en bloc to Geneva private bank

An entire team from the Credit Suisse bank in Zug has left the bank to join the competition. This has been reported by the "Inside Paradeplatz" blog. The team in question is Entrepreneurs & Executives (E&E), which advises female entrepreneurs and managers.

According to "Inside Paradeplatz", 15 or so Credit Suisse employees under Managing Director Marco Arnold are switching to Geneva-based Lombard Odier, which has started up in Zug under the leadership of ex-CS manager Serge Fehr.

When approached by the Zuger Zeitung newspaper, a CS spokesperson confirms that "the E&E Zug market manager is reorienting himself professionally and, in this context, other employees of the E&E Zug team have decided to terminate their employment relationship with Credit Suisse." A successor for the head of E&E Zug has already been appointed, in the form of the current head of the Schwyz/Uri market, Viktor Hanno.

The Credit Suisse headquarters in Zug     Photo: Nora Baumgartner

The spokesperson continues: "In the meantime, we have already been able to internally recruit several experienced employees, who have transferred to the area and will take over client advisory services with immediate effect." Biagio Spina, until now deputy market manager Schwyz/Uri, will take over the market management from Viktor Hanno ad interim.

The bank will not disclose how many people work for the Credit Suisse in Zug; it will only indicate the number of employees at the regional level. The CS currently employs around 320 people in Central Switzerland as a whole.