Heinz Huber to step down as CEO of Switzerland's second-largest banking group at year-end, with interim leadership appointed as search begins for permanent replacement.
"Heinz Huber took over as CEO of Raiffeisen Switzerland at a very challenging time and has always managed the company prudently and successfully with a steady hand"
In a significant development for Switzerland's banking sector, Heinz Huber, CEO of Raiffeisen Switzerland, has announced his unexpected departure from the country's second-largest banking group. The announcement, made on December 18, 2024, reveals that Huber will step down from his position at the end of the year, marking the end of a nearly six-year tenure at the helm of the cooperative banking institution.
Raiffeisen Switzerland has announced a structured transition plan, with Christian Poerschke, currently the head of finance and services department and deputy chairman of the executive board, stepping in as interim CEO effective January 1, 2025. The board of directors has already initiated the succession process to find a permanent replacement. Meanwhile, Huber's next career move has been confirmed – he will assume the role of chairman at Graubündner Kantonalbank (GKB) in July 2025, marking a significant shift in Swiss banking leadership.
Under Huber's leadership since January 2019, Raiffeisen Switzerland has demonstrated remarkable financial performance. The banking group achieved revenues of CHF 4.1 billion in the previous year, marking a 15% increase. Profit surged by 17.7% to reach CHF 1.39 billion, highlighting the institution's robust growth. The cooperative banking group, comprising almost 220 Raiffeisen banks and employing over 11,000 people, has successfully expanded across all business areas during Huber's tenure. Board Chairman Thomas Müller acknowledged Huber's prudent management during challenging times, praising his steady leadership and significant contributions to the bank's development.
The leadership change at Raiffeisen Switzerland comes at a crucial time for the Swiss banking sector, which continues to evolve in response to global financial challenges. As the second-largest banking group in Switzerland after UBS, Raiffeisen's transition will be closely watched by industry stakeholders. The appointment of an interim CEO and the search for a permanent replacement will be critical in maintaining the institution's strong market position and continuing its growth trajectory. The banking group's cooperative structure, with its deep roots in local communities, remains a distinctive strength as it navigates this leadership transition.