Geneva Private Bank Re-brands, Targets Big Growth in AUMs

Contributing Editor

2 February 2006

Geneva-based Banque Pasche, the private banking subsidiary of the French group CIC Group, plans to re-brand with a new logo, according to a report in Le Temps. The bank also said it aims to triple its assets under management. The bank currently manages SFr3 billion ($2.3 billion) in client assets, but its chief executive Christophe Mazurier was quoted in the report as wanting to increase this to SFr1billion “quickly”. He added that an acquisition within the next six months is likely, which could be outside Switzerland. Pasche presently has offices in Nassau, Gibraltar and Monaco, but plans branches in Dubai and Uruguay, according to the report. Recent the bank hired a number of new relationship managers from Ferrier Lullin and Crédit Lyonnais, said the report. Altogether, Pasche employs 70 staff, with 40 in Geneva.