Leadership Change at Baloise Bank Ltd

Starting January 1, 2025, Baloise Bank Ltd will welcome Thomas Schöb as its new CEO, succeeding Jürg Ritz. Schöb, a physicist with extensive experience in investment strategy and group life business at Baloise, aims to continue the expansion of Baloise's unique insurance and banking model. Clemens Markstein, CEO of Baloise in Switzerland, expressed gratitude to Ritz for his substantial contributions.

Baloise's business model targets high-net-worth clients, merging insurance and banking services to meet evolving demands. Recent performance metrics reflect robust growth, with insurance sales up by 64% in the first half of 2024 compared to the previous year. The company has successfully managed investments exceeding CHF 500 million and maintained high engagement in life insurance and asset management sectors.

Schoeb's appointment aligns with Baloise's strategic goals to improve cost efficiency and enhance financial returns, with a target to reduce the cost/income ratio by at least seven percentage points by 2027. Baloise aims to capitalize on its broad customer base to further enhance its market position.