For Gonet Bank, joining the Arab Bank Switzerland Group did not mark a break with the past, but rather a step up in scale. Without compromising its identity, the bank now has the resources to accelerate its growth trajectory, broaden its offering and assert its ambitions across the entire Swiss market. Jean-René Lepezel reflects on this new momentum and reviews the transformations currently taking place in the sector.
You joined Gonet in 2010. Looking back over the last fifteen years, what do you consider to have been the most significant changes in the Swiss private banking sector?
Over the past fifteen years, it is clear that Swiss private banking has undergone profound changes. Following the abolition of banking secrecy – which was regarded as a competitive advantage – banks in the sector have had to demonstrate their expertise in investment management and wealth planning, whilst also continuing to justify the quality of their services. At the same time, the sector has undergone significant consolidation. This trend, which is continuing against a backdrop of digitalisation, has weeded out the weakest players and strengthened those that are built on a genuine value proposition.
In summary, Swiss private banking has shifted from a model based on fixed income to one based on performance, expertise and efficiency.
How has Gonet’s client base evolved during this period, in terms of both expectations and profile?
In the world of Swiss private banking, the client base is undoubtedly evolving just as much as the institutions themselves. In the past, it consisted mainly of heirs, wealthy families and capital holders seeking discretion and stability. Today, it is made up more of entrepreneurs, start-up founders, private investors and senior executives. These new fortunes are generally more recent, more international and more mobile, which is transforming expectations and the relationship with private banks such as ours.
In what way has Gonet’s integration into the Arab Bank Switzerland Group had the greatest impact on its trajectory?
This move has given Gonet a new foundation, clarified its positioning and reinforced its image as a private bank with a clear vision for its future. Within the Group, Gonet is thus set to become the platform for the development of wealth management in Switzerland.
Five years ago, the foundations were already solid. What has changed since the merger with ABS is undoubtedly the scale and pace. This is evidenced by the acquisition of ONE swiss bank, the new roll-out of Dynagest and the property project at La Corraterie. To sum it up in a single sentence, integration into the ABS Group has not changed who we are, but it has changed what we can achieve.
What have been the most obvious benefits?
It is, to say the least, invaluable to belong to a group that has the resources to match its ambitions. On the one hand, I see this as a guarantee of great financial strength – which is one of the very first qualities a private banking client looks for – and, on the other hand, I see it as providing the long-term stability needed to build relationships of trust with all our stakeholders.
Furthermore, our affiliation with Arab Bank Switzerland gives us access to investment solutions that we could not have developed on our own, and enables us to challenge one another on issues specific to our industry.
What were the main objectives behind the acquisition of ONE swiss bank?
It enabled us to reach a new milestone in terms of assets. We have passed the 10 billion mark, and we are approaching 20 billion at Group level. With the constant rise in costs that characterises our business, as well as falling margins, the concept of critical mass is becoming increasingly important. One could debate the exact threshold indefinitely, but it seems to me that it will become increasingly difficult for very small banks to survive. The consolidation process is very real, and it is likely to accelerate over the coming years. Gonet, for its part, now finds itself on the right side of the fence.
Beyond these ‘practical’ considerations, the acquisition of ONE swiss bank benefits us in two ways, each of which is of strategic importance. Now that we are established in Lugano, in addition to Geneva, Lausanne and Zurich, we can assert ourselves as a truly Swiss bank, with a national reach rather than one limited to Geneva alone. And Dynagest’s expertise in quantitative management enables us to position ourselves in a promising segment, which is of interest to institutional clients – pension funds in particular – as well as private clients.
How far along are you with this integration today?
As a reminder, this acquisition was announced in November 2024. It received regulatory approval in June 2025. That was exactly one year ago. For the most part, the integration is complete. The teams have been working together since last autumn, the IT migration took place during the first quarter of this year, and the full range of products and services is currently being rolled out to clients. Our previous experience with integrations – namely Mourgue d’Algue & Cie in 2018 and Banque Degroof Petercam (Switzerland) in 2022 – has enabled us to manage this operation successfully.
How do you now envisage Gonet’s development in the Swiss market?
We now have a very broad range of investment solutions. This encompasses traditional discretionary management and advisory services, as well as private equity, property and digital assets. I’d like to make a brief aside regarding these digital assets: they are also a very effective loss leader, which few institutions of our size offer in Switzerland. It is up to us to promote this offering and integrate it into a comprehensive wealth management approach. Regardless of this, we remain open to any opportunities for external growth or new market entries that would make sense.
Given the decline in the number of banking institutions, is external growth still a viable option?
We are convinced that the number of private banks in Switzerland will continue to fall. Several factors are still driving consolidation, whether it be rising regulatory costs, necessary investments in AI, digitalisation and cyber security, pressure on margins, and so on. The question is not whether there are banks to acquire, but rather to identify which types of acquisitions still create value, bearing in mind that the quality of the assets acquired will matter more than their volume.
What fundamentally sets Gonet apart from its competitors?
In my view, it is a combination of two characteristics, each unique in its own right, which has no equivalent. Firstly, there is its membership of a banking group that clearly embraces its positioning. ‘One group, two banks’. This choice gives the Gonet brand a special place. And with good reason. In the consolidation waves of the last ten years, the acquired brand has most often simply disappeared, or found itself attached to that of the buyer – which is not without significance.
And then there is our ability to deliver a strong customer experience, in keeping with our DNA as a family-run and entrepreneurial bank, which places relationships and service well above the product.
If you look five to ten years ahead, what should the private bank of the future look like?
It will evolve more through adaptation than through regulatory upheaval, as the framework seems to me to be well established today. The key aspects seem clear to me: effective risk management, optimised use of artificial intelligence, and a range of products and services tailored as closely as possible to clients’ needs. What will remain intangible is the close, trusting relationship with the client.