Kaiser Partner continues to grow
Kaiser Partner continues to implement its growth strategy successfully and to invest in people, IT and forward-looking digital solutions.
- The wealth management group’s revenue went up 4% in the first half of 2015 compared with the equivalent period of the previous year.
- The Group’s private bank has taken in net new money of CHF 96 million over the last 12 months, introduced a new banking system and kept its profits steady despite the SNB’s euro decision and significant investment spending.
- Headcount has gone up by 7% since the start of the year.
- Christian Reich appointed head of Kaiser Partner Privatbank.
Vaduz, July 22, 2015 – Liechtenstein wealth management group Kaiser Partner continues to implement its growth strategy successfully despite a difficult market environment, despite the SNB’s euro decision at the beginning of the year, and despite the persistent strength of the Swiss franc. Revenues increased in all parts of the business during the first half of the year. Pleasingly, the trust business, including reporting services, saw revenue grow by around 4%.
Headcount has grown by 7% since the beginning of 2015, mainly in Liechtenstein, and the Group plans to appoint more personnel in the second half of the year.
Good result at Kaiser Partner Privatbank
The Group’s private bank posted a stable profit of CHF 1.4 million for the first half-year, matching the year-back figure. Net new money compared to the same period last year came to CHF 96 million (+3%). Income from financial business increased by 9% and net interest income by 12%, while income from commission and service fees was almost 2% lower.
Given the turbulence caused by the SNB’s euro decision at the start of the year, the continuing strength of the Swiss franc and the significant IT investments needed for the introduction of a new banking system, this was a good result. The bank continues to pursue a cautious investment policy. It is extremely solidly capitalized, with a Tier 1 core capital ratio of 21%. The outlook for the second half-year is positive.
Christian Reich has been appointed as head of Kaiser Partner Privatbank
He has been a member of the bank’s Executive Board for 4 years and succeeds Dr. Ariel Sergio Goekmen, who is leaving at his own request by the end of September 2015 to take up a new role in his home town of Zurich. Fritz Kaiser, Chairman of the Board of Directors, said the following: “We would like to thank Dr. Goekmen for his valuable contribution to the bank’s development in recent years, and wish him every success in his new role. Christian Reich is already managing the bank’s operations in Liechtenstein and he will now head its further development.”
Positive second-half outlook for the Group
Kaiser Partner has launched various market and service initiatives which will bear fruit in the second half of 2015 and make their first positive contributions to the financial result. The Group’s own digital agency 21iLAB (formerly Ringier Studios) is also working on digital solutions that will support the growth initiatives. The company is positive about its prospects for the second half of the year.