The operating loss of the Geneva-based private bank widened to 4,4 million francs in the 2025 financial year, compared with a deficit of 3,1 million francs in 2024. Net profit showed a loss of 4,5 million francs (2024: -2,7 million francs), as reported by «Finance Corner» on Friday.

As of 31 December 2025, the bank’s assets under management amounted to 3,9 billion francs, representing a year-on-year decline of 8,9 percent. This was mainly due to the transfer of funds previously managed by the bank (500 million francs) to Eric Sturdza Asset Management. Without this transfer, assets under management would have increased by 2,7 percent.

Another reason for the decline was a change in the bank’s accounting practice regarding amounts invested through Lombard loans. These had previously been included in assets under management but are no longer taken into account.

Lower Costs Following Staff Reductions

As a result of the organisational changes implemented, the bank’s operating income declined by 7,8 percent to 30,5 million francs. At the same time, operating costs fell by 7,0 percent, mainly due to staff reductions from 82 to 55 employees, as many functions are now handled at group level.

According to information received from the bank, the first months of 2026 showed positive developments. Net inflows amounting to around 10 percent of assets under management were recorded.

New Group Structure and new CEOs at Group and Bank Level

As part of the 2024 restructuring, the asset management activities previously carried out by E.I. Sturdza Strategic Management in Guernsey and London were brought back to Switzerland. They were taken over by a new company, Eric Sturdza Asset Management SA, which obtained a licence as manager of collective investment schemes in April 2025. This new entity now manages the E.I. Sturdza Funds and has assumed all of the group’s asset management activities.

In addition, a holding structure was created (Groupe Eric Sturdza SA), which now comprises Banque Eric Sturdza, the management company COGES, and Eric Sturdza Asset Management. Going forward, the group will provide all corporate functions for the other entities, including IT, human resources, communications, non-banking accounting, and compliance.

Eric Sturdza remains at the helm as chairman of the group’s board of directors. However, there have been several changes in management. Micaela Sturdza, the daughter of the chairman and CEO of both the bank and the group, stepped down from her roles for personal reasons as of 31 March 2026. Luca Micheli has now been appointed CEO of the group, while James Buchanan-Michaelson has taken over as CEO of the bank.