Schwyzer Kantonalbank (SZKB) has a new Chief Executive Officer (CEO): It is the former Chief Financial Officer (CFO) Michel Degen. With this appointment (which takes effect immediately), the Bank Council is «sending a clear signal for continuity, stability and the consistent continuation of the successful strategy of the leading bank in the canton of Schwyz,» according to the press release issued on Tuesday.

Degen has already led SZKB on an ad interim basis since the end of February 2025, following the transfer of the then CEO Susanne Thellung to Zürcher Kantonalbank (where she has headed the newly established «Private Clients» business unit as a member of the Executive Board since June 1).

«Open Recruitment Process»

Degen has «clearly prevailed in an open and professionally accompanied recruitment process with his profile, his previous track record and his profound knowledge,» the press release emphasizes. Bank President August Benz commented: «I am convinced that Michael Degen, together with all employees, will successfully continue the positioning of SZKB as a generation bank»

Degen joined SZKB at the beginning of 2022 and has since been a member of the Executive Board as CFO and Chief Risk Officer. He previously held various management positions at Basellandschaftliche Kantonalbank.

The next Personnel Construction Site

According to SZKB, the recruitment process for a successor in the Finance and Risk Management division has already begun.

Until a new appointment is made, Jürg Billeter (also a member of the five-person Executive Board) will continue to manage the division and assume the role of CFO on an ad interim basis.