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Swiss banks significantly reduce staff hiring amid ongoing job market contraction

Swiss banks are significantly reducing their hiring, with job openings dropping to 550 by the end of April, a 25% decrease from April 2024 and a 40% decline since spring 2023. UBS, Raiffeisen, and Julius Bär are among the institutions experiencing notable contractions, while Lombard Odier and Vontobel are exceptions.

Swiss banks significantly reduce job vacancies amid ongoing employment contraction

Swiss banks are significantly reducing their hiring, with job vacancies dropping to 550 by the end of April, a 25% decrease from the same month in 2024 and a 40% decline compared to spring 2023. UBS has seen a 23% contraction, while including Credit Suisse's previous listings raises this to 36%. Other institutions like Raiffeisen, Julius Bär, and Zurich Cantonal Bank also report declines, with only Lombard Odier and Vontobel showing an increase in vacancies.

job market for bank employees in switzerland sees significant decline

The job market for bank employees in Switzerland is contracting, with the ten largest banks advertising 25% fewer positions in April compared to the previous year. UBS and Credit Suisse are notably impacted, with job postings down 23% and 36%, respectively. Overall, vacancies are over 40% lower than in spring 2023, reflecting a broader trend of declining job opportunities in the sector.

lombard odier faces leadership exodus as client acquisition efforts falter

Lombard Odier is facing a setback in Zurich as key personnel, including Raphael Kron, head of institutional clients, resign amid a faltering strategy to attract wealthy clients from Credit Suisse. Despite efforts to recruit high-profile talent, the anticipated success has not materialized, with new client acquisitions proving limited.

ubs wealth advisors leave for julius baer amid recruitment changes

UBS is experiencing a notable exodus of wealth advisors in London, with at least three senior members—Matt Bonfield, Nick Williams, and Josie Shaw—joining Julius Baer. This shift is attributed to Julius Baer's more attractive compensation structure, which offers a percentage of assets brought in, contrasting with UBS's reportedly disappointing bonuses. The departures follow other significant exits, including Mark Goddard, and reflect broader changes within UBS's UK operations, which are increasingly centralized in London.

swiss national bank signals end of rate cut cycle with latest decision

The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, potentially marking the end of its rate-cutting cycle amid heightened economic uncertainty. Analysts suggest that while further cuts could occur, the current move reflects a cautious approach to stabilizing inflation and responding to international pressures. Many expect the SNB to maintain this rate for the foreseeable future, with negative rates remaining a distant possibility.

swiss national bank cuts guide rate signaling end of rate cut cycle

The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, marking a potential end to its rate cut cycle amid rising economic uncertainties. Analysts express mixed views, with some anticipating further cuts if inflation trends worsen, while others believe the SNB may pause further reductions, citing stabilized domestic demand and limited monetary policy tools. The decision reflects a cautious approach to navigating geopolitical and trade risks impacting the Swiss economy.

swiss banks struggle to maintain global brand value amid rising competition

Swiss banks have seen a collective brand value increase of 11% to USD 20.7 billion, yet none made the global top 10, indicating a decline in their international standing. UBS remains the most valuable Swiss brand at USD 14.1 billion, bolstered by its acquisition of Credit Suisse, but still trails behind the Industrial and Commercial Bank of China, valued at USD 79.1 billion. Notably, Pictet experienced significant growth, with a 31% increase in brand value.

swiss banks struggle to maintain global brand value amid rising competition

Swiss banks have seen an 11% increase in brand value to $20.7 billion, yet none made the global top 10, highlighting a decline in international standing. UBS leads as the most valuable Swiss bank at $14.1 billion, but remains significantly behind global leader ICBC, valued at $79.1 billion. Notably, Pictet experienced a remarkable 31% growth in brand value.

swiss national bank cuts rates amid global economic uncertainty

The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, signaling a potential end to the cycle of rate cuts among major central banks amid global economic uncertainty. Analysts express mixed views, with some predicting further cuts if disinflation persists, while others believe rates will stabilize, reflecting the SNB's cautious approach to inflation and economic conditions. The next meeting in June is deemed crucial for future policy direction.
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