As part of Rothschild’s strategy to strengthen its client services and acquisition capacities within its private banking business, two teams comprising a total of nine employees are to switch from Clariden Leu to Rothschild in Zurich.

The teams will concentrate on clients in Russia, Central Asia and the Middle East. The head of this market region is Christoph Schärer, who also recently joined Rothschild from Clariden Leu.

Veit de Maddalena, acting global chief executive officer of Rothschild Private Banking and Trust and chief executive of Rothschild Bank Zurich, said: “I am delighted at these new additions. I am convinced that these established teams will very soon be achieving positive results for us. The growth regions of Russia and Central Asia as well as the Middle East are of great significance with regard to us achieving our growth targets, and it is therefore particularly important for us to have a strong presence in these regions.”