The gap at the top of the Post Office bench has been apparent for a long time. In March, current boss Hansruedi Köng publicly announced his resignation as Postfinance boss. He will stay until February. However, nine months after the resignation announcement and two months before Köng’s departure, there is still no successor.
No successor established internally
The bank is looking for the most suitable person for the task. She said she needed more time for this than originally planned.
The twelve years with Hansruedi Köng at the helm of the bank were apparently not long enough to build a suitable successor internally. The gap is now temporarily filled by the CFO of Postfinance, 61 years old.
The search for a boss was already causing background noise. In the summer it was said in the media that Postfinance was about to finalize its personnel. The change in headhunters who are looking for a new boss for the bank also made headlines.
A systemically important bank
The job doesn’t seem particularly desirable. He would certainly have charisma. The bank is one of the big four. In addition to the new UBS, ZKB and Raiffeisen, it is one of the four systemically important banks that are considered too big to fail apply.
And it is an important moneymaker in the postal company. After all, her mother’s bank contributed more than half of the profit last year with 190 million francs.
“Just” an assistant to the mother
In contrast, the new boss of Postfinance does not have nearly as much scope for shaping the situation. The Postfinance CEO has so far only sat on the Post Group management as an assessor. He doesn’t have the right to vote. Postfinance also has a handicap externally. It is not a “real” bank. Although it manages savings, loans and mortgages, it is not allowed to grant them.
Parliament has so far not wanted to grant the federal company the necessary banking license. There has also been resistance to privatization as a possible solution for Postfinance as a full bank.
On the executive matter, Postfinance announces new information for the first quarter of 2024. It is clear that the long search process and the many background noises are not beneficial for the bank and the new manager.
Open the people box. Close the people box
Benita Vogel has been working for SRF TV since 2022. The business journalist previously wrote for the “Tages-Anzeiger”, the “Sonntagszeitung” and the “Handelszeitung”, among others.