Federated Hermes has opened its first office in Switzerland and hired Pascal Weber to lead the firm’s operations in the country.

Weber has been named director of business development for Switzerland. He will report directly to Angelo Natale, head of business development, CEMEA. His focus will be on expanding the firm’s third-party business, with particular emphasis on the Swiss wholesale market.

He will work alongside Michael Kalenberg, director of business development for Switzerland, who joined Federated Hermes in 2014 and is responsible for business development and relationship management with Swiss institutional clients.

Weber has more than 20 years’ experience in the financial services industry, across business development and client management. He was previously head of business development and client coverage at Credit Suisse, and head of Swiss accounts at PGIM Investments.

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“Federated Hermes is a very strong brand internationally, with an excellent range of client-centric solutions,” said Weber.

“We see an excellent opportunity for growth in the Swiss market and I’m excited to be a part of these expansion plans.”

The investment manager is expanding its footprint in Europe with the aim of enhancing client engagement, and delivering exceptional value for clients.

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“The expansion of our client base and the enhancement of our investment solutions in Switzerland are essential components of Federated Hermes’ growth plans,” added Natale.

“We have had an active sales presence in Switzerland for the past decade and we are excited to open our first office in the region; our physical presence on site enables us to deepen our customer relationships and strengthen our position in the market.

“This also presented a great opportunity to expand the team with the appointment of Pascal, marking our first onshore hire that is dedicated to the wholesale market. His proven track record of building and maintaining deep client relationships and thorough understanding of the Swiss wholesale market will be instrumental in achieving our growth objectives.”

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