The Rise of a Boutique Bank
Banque Havilland Liechtenstein, a vibrant boutique bank situated in Vaduz, has carved out a significant reputation in the financial sphere of the principality. Established a decade ago, the bank, under CEO Fabian Käslin’s leadership, emerged as potentially the fastest-growing bank in Switzerland or Liechtenstein last year.
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The Youngest Banking CEO’s Vision
Fabian Käslin, upon his appointment in February 2023, became the youngest bank CEO in Switzerland or Liechtenstein. His strategy involved overhauling the bank’s personnel structure, forging collaborations with renowned brands like Porsche, and addressing key operational weaknesses that he perceived as obstacles in many banks’ success.
Financial Milestones and Growth Strategy
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As of the end of 2022, Banque Havilland held CHF 1.1bn in customer assets. While the financial results for 2023 are pending, Käslin revealed that the bank attracted several hundred million Swiss francs last year. He aims to match UBS’s reported 30% net new money (NNM) growth rate without relying on mergers and acquisitions.
Revolutionizing Personnel Culture
Käslin introduced a unique concept of ‘Red carpet service’ to relationship managers (RMs), placing them at the center of the bank’s operations. He believes in empowering RMs to focus more on client interactions rather than internal administrative processes. This approach aims to manage the increasing complexity of high-net-worth clients more efficiently.
Table: Banque Havilland’s Growth Overview
| Year | Customer Assets | Notable Achievements |
|---|---|---|
| 2022 | CHF 1.1bn | Rapid Asset Growth |
| 2023 | CHF 1.4Bn (expected) | Significant Client Onboarding |
Addressing Industry Challenges
Käslin notes that mismanaged operational complexity often leads to stagnation and inefficiency. His ‘red carpet culture’ minimizes this by expediting feedback loops and streamlining the onboarding process for complex clients.
Client and Talent Attraction
The bank’s RM-centric approach has not only enhanced client servicing but also attracted top talent from competitors like Vontobel, LGT, and Julius Baer. The bank’s growth is particularly notable among German-speaking clients in Switzerland and Germany, including several billionaires.
Impact of the Credit Suisse Fallout
Käslin observes that the downfall of Credit Suisse has shifted industry dynamics, making boutique banks more appealing. He believes that Banque Havilland’s focus on safety and stability, coupled with its entrepreneurial family ownership, positions it uniquely in the market.
Brand Awareness and Sponsorships
To further bolster its position, Banque Havilland has undertaken brand awareness initiatives, including sponsoring the Porsche Supercup and FC Vaduz. These efforts reflect the bank’s commitment to growth and prominence in the financial sector.
In summary, under Käslin’s youthful and dynamic leadership, Banque Havilland Liechtenstein is rapidly establishing itself as a formidable player in the banking industry, leveraging unique strategies and cultural shifts to attract clients and talent, while navigating industry challenges with agility and foresight.
