Schroder & Co Bank Cuts Jobs in Switzerland
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Schroder & Co Bank Cuts Jobs in Switzerland
Schroder & Co Bank Cuts Jobs in Switzerland
Schroder & Co Bank, the Swiss private bank of British Schroders Group, is relocating many of its back-office functions from Switzerland to the UK as part of its global growth plans in wealth management. This decision comes at a time when back-office jobs in Switzerland's financial centre are under pressure, with significant job cuts expected due to the recent takeover of Credit Suisse by UBS.
Facts
- Schroder & Co Bank is moving many back-office functions from Switzerland to the UK.
- Around 100 jobs at the Zurich Westpark service centre will be relocated.
- The move is part of Schroders' global growth plans in wealth management.
- A redundancy package will be provided for affected employees.
- Schroder & Co Bank historically had a relatively large back office in Switzerland.
- UBS's recent takeover of Credit Suisse is expected to result in significant job cuts, particularly in the back office.
- Schroders is one of the few foreign asset managers to employ fund managers in Switzerland.
Read more here: https://www.finews.com/news/english-news/58278-schroder-co-bank-jobs-switzerland-bank-office
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