Paris-based Rothschild & Co, already present in Geneva, is expanding its presence in German-speaking Switzerland, executive chairman Alexandre de Rothschild said in an interview with the «NZZ» (in German, behind paywall) Wednesday.

The new hires, some joining from Credit Suisse as finews.com reported last month, now form the bank’s Zurich customer service team, led by the private bank's Zurich CEO Laurent Gagnebin. Together with bankers in Geneva, the 350-strong Swiss workforce manages 27 billion Swiss francs ($ 29 billion).

Further Acquisitions

The acquisition of Banque Pâris Bertrand two years ago, bolstered Rothschild & Co Switzerland's private wealth and asset management assets, and it does not rule out further acquisitions in the country, the chairman said. 

Regarding Switzerland's ailing Credit Suisse, de Rothschild told the newspaper «I do not believe that the events at Credit Suisse pose a risk of fragility for the Swiss financial center.»

US Market

After France and the UK, Switzerland counts as one of the bank’s largest hubs spanning its global presence in 40 countries. Another growth market is the US, where the bank is adding offices to the existing locations it already operates.