Swiss Finance's Biggest Exits of 2019
Page 5 of 9
5. Peter Schmid – Squeezed Out
Ex-Credit Suisse top banker Claudio de Sanctis wasted little time in shuffling Deutsche Bank's European arm to his taste after hiring on last December. The Italian banker's changes hit several Swiss veterans hardest: former Swiss head Paul Arni, ex-European boss Peter Hinder, most notably Peter Schmid (pictured above).
While Arni replaced Moeckli (see first page) at VP Bank, Hinder and Schmid haven't yet resurfaced. Both have more than 20 years of finance industry experience. After the initial flurry of changes, de Sanctis was promoted by Deutsche boss Christian Sewing to the German lender's top wealth role. Despite Deutsche's new-found affinity for private banking, the job still doesn't come with an entrée into top management, as it would at a Swiss lender.
