Bank Sarasin is to offer asset management and financial planning services through its newly-opened branch in Lucerne, central Switzerland.
The new branch, which is managed by UBS’s former head of central Switzerland Markus Koch, fits in with the bank’s long-term growth strategy to expand in the region, a province that has “enormous” potential, according to Eric Sarasin, head of private banking.
Bank Sarasin told PBI in December last year it was planning to start operations in Lucerne.
The new office is the bank’s sixth Swiss location, alongside Basel, Berne, Geneva, Lugano and Zurich.
In May, Sarasin’s rival Julius Baer opened a new office in the canton of Ticino in a bid to capitalise a pool of clients, who are attracted by the region’s international reputation.