Zwicky will take on the role of LLB Schweiz CEO on 3 January 2024. He succeeds David Sarasin, who has asked to leave the bank at the end of the year.

The three-man board of management at the bank, including Martin Kaindl (CFO) and Manfred Pfammatter (head of corporate and direct client business) will be completed by Zwicky.

He will also assume responsibility for markets, focusing on the further development of private banking as well as dealings with external asset managers.

Zwicky currently works as a managing director in wealth management at UBS but holds over 28 years of relevant experience.

Urs Müller, chairman of the LLB board of directors, said: “We are very pleased to have recruited the ideal CEO in René Zwicky. He brings both leadership experience and decision-making qualities to the table. We are confident that that appoint of René Zwicky will allow us to achieve our ambitions for growth in the Swiss market.”

Zwicky thanks the board and added: “I am very much looking forward to working together with the board of directors, my board of management colleagues and all employees to advance LLB Schwiez and to helping out clients achieve their goals.”

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In addition, the board and the group executive management of LLB Schweiz thanks departing CEO David Sarasin for his work and dedication.

Müller stated: “David Sarasin has transformed Bank Linth into a modern and successful retail bank and further strengthened the cooperation with the LLB Group. We wish him every success in his professional and private life.”

Sarasin’s successor as CEO is subject to regulatory approval.

Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The majority of the company’s share capital is held by the Principality of Liechtenstein. The LLB Group offers its clients comprehensive wealth management services as a universal bank, in private banking, asset management and fund services.