euro adhoc: Bank Sarasin + Cie AG
other
New organisational structure of the
Sarasin Group increases focus on clients and markets
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Change within organisational structure
18.11.2008
The Sarasin Group´s growth strategy aims to achieve a strong and distinctive positioning as an internationally active Swiss private bank. The Board of Directors has underscored this positioning by merging the two divisions Private & Institutional Clients Switzerland and International. In future only one division will therefore be responsible for client acquisition and advisory services in the Bank´s global private banking activities. At the same time the structure of the new division will be organised along the lines of the geographical markets targeted by the Bank. The new structure is intended to further improve the organisational framework for gearing the Bank´s internal business processes to the needs of its private clients. The new Private Banking Division will be jointly managed by Fidelis M. Goetz and Eric G. Sarasin. The Bank´s new organisational structure comes into effect on 1 January 2009.
New organisational structure based on geographical markets instead of locations The Board of Directors has decided to streamline the management structure as of 1 January 2009 (see organisational chart on the 2nd page of the media release). This move is designed to provide greater focus on clients and geographical markets, and thereby improve the growth prospects for assets under management and the revenues generated in Sarasin´s core business. Bringing together the Sarasin Group´s entire private clients business in one division allows the responsibility for sales and marketing activities to be clearly delegated. The new organisational structure will therefore be geared primarily towards the client's domicile rather than the locations where the client relationship manager are based. In addition the business with external asset managers will be transferred from the Asset Management, Products & Sales Division to the new Private Banking Division.
Organisational structure geared to future growth Joachim H. Straehle, Chief Executive Officer of the Sarasin Group: "The Bank´s dynamic pace of growth over the last two years has brought about the need for our internal structures to be optimised. Pooling resources for our entire private banking operations in just one division allows for the alignment of our marketing initiatives in the various target markets where our clients are domiciled. This creates the right conditions for the further expansion of the Sarasin Group to which we are committed in the coming years."
Strengthening of the sales organisation in the institutional clients business As of 1 January 2009, the advisory business for institutional clients, currently part of the Private & Institutional Clients Switzerland Division, will be merged with the wholesale business, which involves the marketing of investment products via third-party banks and other distribution partners. The importance of the risk-reward profile of the asset management offering and of investment products for this business has been recognised by making it into a new Business Unit in the Asset Management, Products & Sales Division.
end of announcement euro adhoc
Further inquiry note:
Benedikt Gratzl
Corporate Communications
Tel +41 61 277 7088
benedikt.gratzl@sarasin.ch
Branche: Banking
ISIN: CH0002267737
WKN: 872869
Index: SPI
Börsen: SWX Swiss Exchange / regulated dealing