- Global Network
- Europe
- Zürich
Global Network · Europe
Zürich
Zürich carries the custody side of Private Wealth & UHNW. The office opened at Paradeplatz Annex in 2022 and employs nine people, five of them in relationship management and operations. Nine of the sixty-one family relationships are booked in Switzerland, and US$305 million of client assets sit under Swiss custody arrangements against US$14 million of client portfolio booked in the office itself.
Second-line risk for the whole group is also based here. Dmitri Halloran-Veiga, Chief Risk Officer, works from the fifth floor and chairs the Risk & Valuation Committee, and a separate Swiss service company employs the risk team so that its reporting line stays outside the divisions it reviews. Valuations of European positions are challenged here before they reach the committee.
The office executes nothing and lends nothing. Custody instructions are placed with Seefeld Depositary, and the 2028 European phase adds a settlements team of four so that each instruction is verified in Zürich rather than through Luxembourg. From 2029 the Gulf booking centre in Dubai will link its custody to this office and to Singapore.
Functions
- Private wealth relationships booked in Switzerland
- Custody arrangements for the European private-wealth book
- Seat of the Chief Risk Officer and of second-line group risk
- Valuation review of European positions
- Reporting to families with a Swiss booking
Office lead
Konstantin Aebischer-Mensah, Head of Office, Zürich