Swiss Life Asset Managers to merge its Swiss asset and fund management companies and close its Lugano office
- Swiss Life Asset Managers intends to consolidate its asset and fund management entities in Switzerland into one fund management company – Swiss Life Asset Management AG – based in Zurich.
- Under the new organisational structure the Lugano operations are expected to be transferred to German-speaking Switzerland leading to the closure of the Lugano office by the end of 2017. A maximum of 30 employees are affected.
- Swiss Life Asset Managers will support them with their professional reorientation, whether inside or outside the company.
Swiss Life Asset Managers will introduce a new organisational structure in 2017 for its asset and fund management business in Switzerland to focus its processes and services still more closely to client requirements. The structure involves merging the previously separately managed companies into one fund management company, Swiss Life Asset Management AG, regulated by the Swiss Financial Market Supervisory Authority (FINMA) and based in Zurich. The merger of the three companies is scheduled for completion by mid-year, subject to approval by FINMA.
This will affect Swiss Life Asset Managers in Lugano. As a result of the relocation, the office is expected to be closed, affecting a maximum of 30 employees. The staff and employee representatives have been informed of the planned relocation. The Management is currently in discussion with the affected employees and will give the employees their full support with their internal and external professional reorientation.
Swiss Life Switzerland’s operations and locations in Ticino are not affected by these changes. “Ticino is a very important location for Swiss Life. We have 230 staff working for Swiss Life Switzerland in Ticino, supporting over 79 000 private and corporate clients with their life and pensions and financial solutions”, says Marzio Zappa, Head of Customer Services for Swiss Life Switzerland in Ticino.