Strategy
Zurich-Based Private Bank Re-Brands After Ownership Change
Zurich-based Cosba Private Banking has changed its name to DZ Privatbank (Schweiz), according to a statement from the bank. The re-brand...
Zurich-based Cosba Private Banking has changed its name to DZ Privatbank (Schweiz), according to a statement from the bank. The re-branding comes after the Raiffeisen Bank Group sold its 25 per cent stake to Frankfurt-based DZ Bank and WGZ Bank of Düsseldorf. DZ Bank now owns 86.3 per cent of the bank and WGZ Bank the remainder. The re-branding has corresponded with a marketing effort by the private bank, which is being led with the slogan: “increase the value of your fortune”. The private bank also announced that it has appointed Peter Hanker to its board of directors. Mr Hanker is chief executive of the Marburg, Germany-based bank, Volksbank Mittelhessen. DZ Privatbank (Schweiz) had around SFr5.7 billion ($4.4 billion) of assets under management at the end of 2004 – the last time the bank reported its AUMs.
