Schroder & Co Bank Cuts Jobs in Switzerland

Schroder & Co Bank Cuts Jobs in Switzerland

Schroder & Co Bank, the Swiss private bank of British Schroders Group, is relocating many of its back-office functions from Switzerland to the UK as part of its global growth plans in wealth management. This decision comes at a time when back-office jobs in Switzerland’s financial centre are under pressure, with significant job cuts expected due to the recent takeover of Credit Suisse by UBS.

Facts

• Schroder & Co Bank is moving many back-office functions from Switzerland to the UK.
• Around 100 jobs at the Zurich Westpark service centre will be relocated.
• The move is part of Schroders’ global growth plans in wealth management.
• A redundancy package will be provided for affected employees.
• Schroder & Co Bank historically had a relatively large back office in Switzerland.
• UBS’s recent takeover of Credit Suisse is expected to result in significant job cuts, particularly in the back office.
• Schroders is one of the few foreign asset managers to employ fund managers in Switzerland.

Read more here: https://www.finews.com/news/english-news/58278-schroder-co-bank-jobs-switzerland-bank-office

Presseportal: https://www.presseportal.ch/de/nr/100096065https://swissfintechladies.ch/blog/