Luzerner Kantonalbank’s head of asset management and services, Klaus Theiler, plans to retire in 2018, Citywire Switzerland can reveal.
The first mention of the Theiler on the cantonal bank's commercial register dates back to 2001.
As head of asset management, Theiler is part of the market services department headed by Beat Hodel.
In 2010, Theiler was also temporarily responsible for the private banking division after the departure of Christof Strässle.
Luzerner Kantonalbank is currently looking for Theiler’s replacement. The new hire will be responsible for 20 employees that work in portfolio management, financial analysis and advisory teams as well as in fund management, which the board of directors executes via the head of asset management.
The bank's current fund offering includes a recently launched LUKB Expert-Tell fund that invests in companies domiciled in central Switzerland.
The main responsibilities of the head of asset management are macroeconomic research, management of mandates for private and institutional clients, the development of asset management solutions, fund management and the implementation of the main investment strategy.
Commenting on Theiler's retirement, a spokesperson for the cantonal bank said: ‘We are hiring the new head of asset management early so that Klaus Theiler will be able to pass his profound knowledge to the new person in charge.’
In March, the LUKB fund announced that Doris Russi Schurter will succeed Mark Bachmann as president of the board of directors.
In May, the cantonal bank revealed that it has hired Brian Mandt as its new macro economist.