People Moves

Credit Suisse Brings In UBS Veteran To Drive UHNW Business

Jackie Bennion, Deputy Editor, 20 August 2019

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The senior hire was most recently global head of sales in London for Schroders.

Credit Suisse has hired a UBS veteran to run its global UHNW client business. Daniel Imhof will join the Swiss bank's Zurich office on 1 November to run its global platinum solutions and client services business and as deputy global head of investment management. He takes over from Volker Köster, who will move to Singapore as head of investment management for APAC.

Imhof will be in charge of portfolio management and client services worldwide, and will take the lead in growing recurring mandate revenues, the firm said in an internal memo seen by this news service.

Imhof moves from London where he spent two years as head of global sales at Schroders. Before that he spent 25 years at UBS, finally serving as global head of portfolio specialists in charge of discretionary, advisory and investment funds distribution.

The Swiss lender said that his knowledge and experience with both institutional and private clients will make him an “excellent addition” to Credit Suisse.

“Daniel's collaborative mindset and entrepreneurial drive will be instrumental in delivering the next level of impact for key clients globally,” the firm said. He reports to investment management head Björn Jesch. The group told WealthBriefing that Imhof's primary focus will be managing its most sophisticated clients.

The bank delivered a broadly good set of second-quarter results in July. Group net income beat analysts' forecasts, and across all business lines, AuM hit a record of SFr979 billion. In the results, the firm said that 70 relationship managers had been added since the end of last year to capture "preferred growth markets." The domestic market has seen Swiss banks in negative interest territory for several years now, which has made fees on cash accounts particularly challenging for all Swiss-based private lenders.

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