Butterfield Bank is targeting the Swiss private banking market by establishing a subsidiary in the c...
Butterfield Bank is targeting the Swiss private banking market by establishing a subsidiary in the country.
Graham Brooks, executive vice-president of Butterfield Bank, said: "The formation of Butterfield Asset Management (Switzerland) was in line with the bank's strategy of increasing its European private banking presence and capability. It is an extension to the service we provide in London through Butterfield Private Bank and also through our business in Guernsey."
Iain Little will be the first managing director of the Swiss-based operation.
Little was previously head of Geneva-based Pictet & Cie's UK private client business, where he was responsible for asset allocation and fund selection.
He also co-founded P&C Global Wealth Managers in Zurich six years ago and was divisional director of international business development for Edinburgh Fund Managers.
The office will open on 1 November in Zurich.key points
Butterfield Bank set sup subsidiary in Switzerland
Iain Little to head the company
Move is part of the bank's European expansion plan
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Spent 56 years at Schroders
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