Migros Bank’s Private Client Chief Markus Schawalder Steps Down August 19

Migros Bank announced on August 18 that Markus Schawalder, head of its private client division and a member of the executive board, is leaving the bank to pursue a new professional opportunity. Schawalder has led the division since 2021, steering one of the bank’s core businesses. His departure comes as the bank faces questions over slowing mortgage lending growth and prior regulatory attention.

Five years steering the bank’s core business

Schawalder took charge of Migros Bank’s private client division in 2021, a role that placed him in one of the most critical positions in the bank’s executive structure. Under his leadership, the bank won multiple awards as the most popular bank for private clients. CEO Manuel Kunzelmann praised Schawalder’s “great commitment and foresight” in shaping the private client business. Before joining Migros Bank, Schawalder served as chairman of CSL Immobilien AG and was instrumental in developing the online brokerage service Nextkey.

Mortgage lending growth stumbles under his watch

Early in Schawalder’s tenure, mortgage lending to private clients surged. However, the growth trajectory reversed sharply in subsequent years, with annual expansion rates falling to a fraction of earlier gains. The slowdown drew attention from regulators in Bern, though details remain unclear. Staff turnover in Schawalder’s division had also surfaced as an issue, with the bank providing him executive coaching three years ago.

Departure timing raises questions

The bank’s announcement that Schawalder “decided to leave the bank to pursue a new professional challenge” offers no clarity on whether the exit was voluntary or prompted by performance concerns. No successor has been named, and the bank stated only that a search will begin immediately. The timing of his departure, coinciding with regulatory scrutiny and slowing business growth, has fueled speculation about the underlying reasons.

What’s next for Migros Bank

Migros Bank must now recruit a new head of private clients at a time when the division faces headwinds. The bank has not disclosed a timeline for filling the role or identified any internal candidates. The private client business remains central to Migros Bank’s strategy, making the leadership transition a critical moment for Switzerland’s retail banking landscape.

Final Thoughts

Schawalder’s exit removes a senior executive from Migros Bank’s leadership during a period of mortgage lending slowdown and regulatory scrutiny. The bank’s ability to stabilize private client growth and retain talent will depend on who leads the division next.

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