June 14, 2011 | by Swissquote
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June 14, 2011, Swiss Life and Swissquote Bank Ltd. have agreed to form a partnership in the area of bank products. Under the new collaborative arrangement, Swissquote will handle the settlement and management of saving and investment products on the Swiss market for Swiss Life. Swissquote will thus become Swiss Life’s new strategic partner in the field of assurbanking, i.e. the distribution of banking solutions via insurance channels.
In concrete terms, starting 1 January 2012, Swissquote Bank Ltd. will act as custodian bank for Swiss Life’s banking clients. As of this date, the approximately 20,000 accounts (representing some CHF 450 million in assets under custody) will be transferred to Swissquote. The client base comprises saving, time deposit and fund accounts. “After closely examining various options, Swiss Life ultimately decided in favor of Swissquote” says Ivo Furrer, CEO Switzerland at Swiss Life. “With its highly innovative approach, cutting-edge technology and range of efficient services, Swissquote will make a significant contribution toward Swiss Life’s goal of substantially increasing the reinvestment rate over the next three years.”
Going forward, cooperation between the two companies is to be intensified mainly in the development of innovative products and online services for pension clients in this age of digital natives. Marc Bürki, CEO of Swissquote Bank Ltd., is convinced that “the Swiss market offers excellent opportunities for shared web-based products, services and client platforms”.
Contact
Marc Bürki, CEO Swissquote, Chemin de la Crétaux 33, CH-1196 Gland Tel. +41 22 999 98 50, fax +41 22 999 94 54, mobile +41 79 413 41 45 marc.burki@swissquote.ch
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Conclusion of this article: « Strategic cooperation between Swiss Life and Swissquote »
Source: Swissquote, Press release