Names Thomas von Hohenhau as its country manager
July 19, 2016: Deposit Solutions, the first open architecture platform for retail deposits in Europe, has started Deposit Solutions CH GmbH. It has named Thomas von Hohenhau as its country manager, Switzerland. The Swiss branch marks the next cornerstone in the transformation of the EUR 9 trillion European market of retail savings deposits and the company’s European rollout. In April this year, it announced the appointment of Max von Bismarck as chief business officer and managing director for the international expansion.
Switzerland is one of the world’s most important financial centres with over CHF 700 billion of retail deposits. Swiss savers are losing millions of Swiss francs every year as their deposits’ interest rates have dropped below inflation. Many Swiss banks hold an excess of retail deposits on their balance sheet, which they currently need to park with negative rates being enforced by the Swiss National Bank. Deposit Solutions operates a new open architecture platform for retail deposits which provides a win-win solution for both savers and banks.
Dr. Tim Sievers, founder and CEO of Deposit Solutions: “With Thomas von Hohenhau, we have succeeded in recruiting an experienced banking expert with in-depth knowledge, an outstanding track record and extensive international management experience. This makes him the ideal executive to lead the expansion of Deposit Solutions’ activities into Switzerland as one of the world´s key savings markets as well as to help drive our further growth strategy in Europe.”
Von Hohenhau spent seven years at the leading Swiss private banking group Julius Baer, covering various senior management positions in Switzerland and around the globe. In his last mandate at Julius Baer, he served as Head Portfolio Management International and was responsible for nine international portfolio management units in Europe, South America and Asia. Previously, he was Global Head of PM Business Operations & Management and led the integration of Merrill Lynch’s Portfolio Management into Julius Baer. Before joining Julius Baer, von Hohenhau was involved in various ICT start-ups as a co-founder and business angel.
“As one of the biggest savers markets worldwide, Switzerland is predestined to be the next major building block in the European growth strategy of Deposit Solutions. As one of the leading financial centres in the world, it can also serve as a great basis for our further expansion in Europe. I am very excited to join such an innovative player in the financial ecosystem and look forward to supporting Deposit Solutions in further growing out its position as leading open architecture platform for deposits”, said von Hohenhau.