About

Founded in 1899, Basler Kantonalbank is a universal bank providing retail and corporate banking products mainly to canton residents. Covering both individuals and businesses, the bank is particularly strong in savings and mortgage products. Of the 24 cantonal banks across Switzerland, Basler is the fifth largest, serving its customers through a network of 1,300 employees and 49 branches. The legal team for the bank has some challenges to face that are unique to cantonal banks, as the bank’s liabilities hold a full state guarantee. This means that compliance and government affairs are exceptionally high on the management’s agenda. The legal team, led by Christian Schoeniger as head of legal and risk, has also had to contend with the US Department of Justice (DoJ) investigation into Swiss banking practices; this resulted in the bank settling with the DoJ and subsequently restructuring to strategically realign its operations and return to profit. The legal team was obviously crucial to both the settlement and the reorganisation of the bank.