It is not an unusual development: when a financial institution gets a new owner, there is a change at the top of the operational level. This was also the case with the former Kaleido Privatbank. 

In the summer of this year, Group Banque Richelieu, which has recognized expertise in exclusive and bespoke private banking services, corporate finance and asset management (including long-standing equity, fixed income & money market strategies with a proven track record) acquired the Zurich private bank; finews.com reported on this.  

A few days later, CEO Rolf Bauer was gone. He considered his task complete. 

Gian Nay new CEO

One person who has not had enough is Gian Nay, who worked with Bauer on the bank’s highest standards of quality and service.

Nay, currently still COO, will take on the role of CEO in the future, as he confirmed when asked. 

Nay wants to establish Banque Richelieu Switzerland as the new «go-to» address for private banking and wants to «continue what we have started—especially for the next phase,» as he says. 

Wealth management becomes even more important

With its new owners (more than €10 billion assets under management, €200m consolidated shareholder’s equity and 27% tier 1 capital ratio), the Swiss wealth management company's options are also changing: in addition to Switzerland and Europe, the Middle East is now one of its core markets. Group Banque Richelieu operates in France, Monaco and in the UAE across 3 business lines: wealth management, asset management and investment banking. «This opens up completely new opportunities for us in providing personalized, holistic support to clients from these regions across multiple locations,» says Nay. 

At the same time, the focus is also shifting: Banque Richelieu Switzerland is focusing on an expanded, differentiated offering in wealth management. «We continue to work closely with entrepreneurs and see the combined support of corporate and private needs with fast decision-making processes as a clear USP,» says Nay. And in order to appeal to a younger clientele, the range of digital assets and alternative investments is also being continuously expanded. 

Banque Richelieu Switzerland is also changing its location: in September, it will move from Zurich's Seefeld district to the Rotes Schloss on General-Guisan-Quai. «This is not least a commitment to Zurich as a financial center and the creation of an attractive working environment for talented individuals with growth ambitions,» says Nay.