Credit Suisse (CSGN.S) is looking to expand cooperation with insurers, Chairman Urs Rohner told a Sunday newspaper, adding the search for his successor at Switzerland’s second-biggest bank was well under way.
“In the retail business in particular, there will be more partnerships with us. There are good examples abroad of how insurance and banking services can be merged, such as Ping An in China,” SonntagsZeitung quoted him as saying in an interview.
“Working with third parties is interesting, but we always have to be careful to protect the strength of our brand. This is particularly important for very wealthy customers.”
He said cooperation projects may cover insurance, credit cards or events, which could help improve access to younger retail clients.
Rohner, whose term ends next year, said the bank’s succession planning continued. “I am confident that we will find a good solution in a timely way,” he said, adding the candidate’s name would be announced as soon as a decision was made.
Rohner said the government and private sector should be planning now how to help companies while the coronavirus pandemic continues, noting emergency Swiss state-backed loans that provided quick liquidity would not suffice.
“It would be wrong to believe that the aid we have decided so far has let us already master the economic consequences of the crisis. I suggest we start thinking now about how we can give the economy new impetus. The crisis will preoccupy us all of next year.”