Swiss private bank PKB Privatbank has hired two senior wealth managers and two assistant relationship managers from Credit Suisse to expand its Latin America operations.
Christian Martinelli, the head of the newly hired senior team, will report to PKB Private Banking and Latin America head Peter Conrad.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Apart from Martinelli, the team consists of Tania Weber, Emilio Fiordaliso, and Gisella Vattilana.
PKB which established its presence in Latin America in 2012, considers it to be a core market since then.
The bank said the new hires reinforce its existing investments in the region, reflects its continued focus on Central and Latin America and commitment to an ‘international and diversified client base’.
Commenting on the development, Peter Conrad said: “These hires clearly demonstrate PKB’s commitment to hiring high calibre professionals with a strong track-record in the wealth management industry.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“The combination of our Swiss heritage and local Latin American proximity, competence and investment expertise is a key value add for our clients.”
Headquartered in Lugano, PKB operates from its offices in Geneva, Zurich and Bellinzona as well as through its affiliate PKB Banca Privada in Panama.
The PKB Group, which includes a private banking boutique Cassa Lombarda in Italy, manages assets of around CHF12bn ($13.3bn).
Recent developments in Latin American wealth space
Last December, BNP Paribas Asset Management (BNPP AM) appointed Luiz Sorge to lead its Latin America business.
In November 2020, there were reports about Credit Suisse combining few of its Latin America wealth-management regions as part of a group restructuring.
In January last year, Swiss banking group UBS decided to establish a new Miami office to serve wealth managers in Latin America.
In 2019, it was reported that JPMorgan is planning to expand in Latin America, with a particular focus on Mexico, supported by wealth creation and political overhaul.
