Swiss Banking's Biggest Winners

John Haefelfinger: Big City Banker Heads for the Province

He spent more than 20 years with Credit Suisse, most recently as head of the Swiss bank's influential and lucrative corporate and specialty lending unit under private banking head Iqbal Khan. The Swiss banker appears to have struggled with the fallout from a major restructuring of the bank under CEO Tidjane Thiam: he starts next year as head of Basellandschaftlichen Kantonalbank (BLKB), replacing long-standing CEO Beat Oberlin.

BLKB has made it eminently clear through its own initiatives and a stake in robo-advisor True Wealth that it plans to be at the forefront of disruption in the financial services industry through digitization and competition from fintech – one of several tempting aspects of moving from the big city to a Swiss backwater.  

Walter Berchtold: Hands Full

He has been a part of Falcon Private Bank's board since last year, but Walter Berchtold had to jump in for the increasingly contested Eduardo Leemann in September. The 54-year-old's enthusiasm for another executive role in private banking, after leaving Credit Suisse four years ago, was obvious.

Affectionately nicknamed «Waedi» at home, the personable Swiss banker had his hands full from Day One: Falcon was sent packing from Singapore and its local branch manager arrested due to its dealings with scandal-engulfed state fund 1MDB. The Zurich-based bank was also ordered to pay millions in fines here at home.

The case isn't over for Falcon yet: two former executives as well as two representatives – thought to be former board members Khadem al-Qubaisi and Mohamed Badaway Al Husseiny – remain in the crosshairs of regulator Finma.

Brady Dougan: Back in Manhattan

He can't leave well enough alone: former Credit Suisse CEO Brady Dougan left the Swiss bank after eight years – the last two of which were uninspired – only to resurface on Wall Street this year with big plans.

The investment banker plans to launch a merchant bank with $3 billion in financing from Scepter Partners, a syndicate of ultra-wealthy families and state investments funds in the Middle East – some of the same people who are large enough board investors to warrant a seat on the bank's board.

The success of the venture is uncertain: he is returning to an operating model that effectively no longer exists on Wall Street, in the worst possible environment for investment banks. Dougan's return to the scene of the crime would appear to be a sporting bet, when viewed cyclically.

Anke Bridge: New Digital Boss

Her appointment raised eyebrows earlier this month: Anke Bridge is Credit Suisse's new digital solutions and delivery head, one of a host of new appointments under Dagmar Maria Kamber Borens (see previous page). Bridge replaces Marco Abele, who was passed over in the bank's new Swiss unit set-up.

The 38-year-old Bridge studied finance and economics in St. Gall and Milan, later earnings a Masters at Harvard Business School. She began her banking career at regional lender Thurgauer Kantonalbank, moving to Credit Suisse two years later. Besides a six-year stint with UBS, Bridge has worked with Credit Suisse since then.

The Swiss and German dual citizen is respected as a product and solutions specialist. Her biggest job in 2017 is ensuring that famously chaotic Credit Suisse sticks with and implements its digital road map.

Laurent Gagnebin: Private Banking Pedigree

After ten years at the head of Rothschild's Swiss bank and trust, Veit de Maddalena handed over the role mid-year. His successor is Laurent Gagnebin, a former Goldman Sachs banker who has mixed feelings about the purely profit-driven nature of the U.S. investment bank.

He moved to Rothschild five years ago, initially in Geneva, where he revamped the private bank's business. It quickly made the rounds internally that should the bank be looking for a replacement for de Maddalena, it could only be Gagnebin, who convinces with a calm but precise and decisive manner.

The native of French-speaking Switzerland is private banking royalty: his father is George Gagnebin, a veteran Swiss banker. Now competitors, the two enjoy an excellent relationship.