User:Akbotas/St. Galler Kantonalbank

The St. Galler Kantonalbank is the cantonal bank of the canton of St. Gallen. With total assets of CHF 40,824 million and 1,327 employees (as of December 2022), it is one of the larger cantonal banks in Switzerland.

Field of activity
As a universal bank, St.Galler Kantonalbank is mainly active in standardized basic banking services, real estate financing, corporate financing and private banking. In addition to its 35 locations in the canton of St. Gallen, the bank has two locations in the canton of Appenzell Ausserrhoden and one in Zurich. It also has a subsidiary, St.Galler Kantonalbank Deutschland AG, in Munich and Frankfurt am Main. The foreign units are licensed in their respective countries of location and are active exclusively in the asset management business.

History
St.Galler Kantonalbank was founded in 1868 as an institution under public law with its registered office in St. Gallen. From 1973 to 1991, Hans Hurni was the bank's central president. After the revised Cantonal Bank Act came into force in 1999, St.Galler Kantonalbank was converted into a joint-stock company in 2000 and the previous company name St. Gallische Kantonalbank was changed to St.Galler Kantonalbank. This was followed in 2001 by partial privatization and the IPO on the SIX Swiss Exchange. The canton holds 51 percent of the shares.

In 2002, Hyposwiss Privatbank AG in Zurich was purchased and with it the geographic expansion through the actual core area of ​​the cantons of St. Gallen and Appenzell Ausserrhoden. In 2003, the takeover of Bank Thorbecke AG in St. Gallen followed, which was subsequently integrated into the St.Galler Kantonalbank. In 2008, the St.Galler Kantonalbank took over the Geneva-based private bank Anglo Irish Bank (Suisse) SA with its locations in Geneva, Lisbon and Porto and renamed it Hyposwiss Private Bank Genève SA. Since May 2009, the St.Galler Kantonalbank has had a wholly owned subsidiary in Munich.

In order to be able to work in Germany, its most important foreign market, the St.Galler Kantonalbank has had a wholly owned subsidiary, St.Galler Kantonalbank Deutschland AG, based in Munich since 2009. In 2011 another branch was opened in Frankfurt am Main.

In 2013, the St.Galler Kantonalbank decided to focus its strategy and concentrate on the home market of Eastern Switzerland as well as the markets in the rest of Switzerland and Germany. As part of this focus, it sold the cross-border wealth management business with Eastern Europe and Latin America to the Swiss private bank Falcon Private Bank Ltd. or to the Banque Privée Espirito Santo Falcon private bank. It also sold its subsidiary Hyposwiss Private Bank Genève SA to the asset management company Mirelis Trust SA, part of the Mirelis Financial Group, which has been based in Geneva since 1949. The acquired bank will continue its business under the previous name Hyposwiss Private Bank Genève SA.

In 2018, the St.Galler Kantonalbank celebrated its 150th anniversary. With CHF 7 million, it supported 39 projects that create new perspectives and ideas and enrich coexistence in their region.