Independent private bank Bergos has appointed Peter Schmid as the new chairman of its board of directors, it announced Wednesday. Schmid has more than three decades of experience leading and transforming international banks. He previously served as CEO of Merrill Lynch Bank (Suisse) in Geneva and Union Bancaire Privée (UBP) in Zurich.

Throughout his career, Schmid has managed institutions with up to 120 billion Swiss francs in client assets and more than 1,000 employees across over two dozen locations worldwide. His track record includes successful turnaround programs, M&A transactions, and the integration of international financial institutions.

Christof Kutscher Steps Down

Schmid succeeds Christof Kutscher, who has served as chairman since 2019. Kutscher is stepping down to focus on building a new company in the field of resilient food supply chains.

Adrian T. Keller, vice chairman of the board of directors and co-owner of anchor shareholder Diethelm Keller Group, emphasized the qualities of the new chairman: «After an intensive and thorough search, we have succeeded in gaining someone with deep expertise and strategic clarity for our company.»

Schmid himself commented: «It is a great honor for me to take on the chairmanship of the Board of Bergos Private Bank», and added:  «Bergos stands for independent entrepreneurship, strong client focus, and an impressive tradition in Swiss private banking.» His main objective will be «to further develop the bank in a challenging market environment and to strengthen its position as a forward-looking, responsible private bank.»

Solid Result in a Challenging Environment

Earlier this month, Bergos reported a solid result for 2024 despite a demanding environment, as finews.com noted. At the end of 2024, the bank managed 7.8 billion francs in client assets.

Bergos, which emerged from the Berenberg Group in 2021, employs over 130 staff today. The bank positions itself with its «Human Private Banking» approach, which in addition to wealth management and private markets also covers expertise in art, philanthropy, and corporate finance services.