The bank has appointed a team of figures to run this new operation in the country.

Bank J Safra Sarasin has opened a new branch office in the Swiss town of Baden, saying this is part of how it grows its domestic market.

The branch is headed by Stefan Holderegger who reports to Yves A Sarasin, head of private banking for domestic clients.  Other team members are Christian Pelli, André Nydegger and Raphael Meier. They are joined by investment consultant Lukas Furrer.

Holderegger previously worked at Credit Suisse.

The team has extensive experience serving private banking clients and will provide high-net-worth individuals, families and institutions in the Aargau region access to the bank’s tailor-made services and distinctive sustainable investment solutions based on a proven track record and long-standing experience.

“It is our objective to constantly grow in our home market Switzerland,” Yves A Sarasin said.

J Safra Sarasin Group reported a net profit of SFr440.2 million ($480.8 million) for 2022, rising 4 per cent on a year earlier.