Fides Treasury Services is now an independent subsidiary wholly owned by UBS following the legal merger between UBS Switzerland AG and Credit Suisse (Switzerland) AG. To lead the team under the new ownership, François Schnyder will take over the position of Chief Executive Officer at Fides as of 1 October 2024.
“We are very pleased to bring Fides into the UBS family,” said Mark Gerber, Chairman of the Board of Directors of Fides and Managing Director at UBS. “Thanks to our unique expertise in the field of multibanking, we see strong cooperation opportunities from which our corporate clients will benefit. Together, we are strategically positioned to drive growth and innovation and deliver value to our customers.”
With the integration of Fides, UBS is expanding its cash and liquidity management solutions and providing a comprehensive suite of financial services that enable companies to streamline their treasury workflows, accelerate daily operations and scale efficiently.
CEO François Schnyder joins Fides from Credit Suisse/UBS, where he spent 30 years in various leadership roles. Schnyder has an extensive background in the banking sector, including senior positions in private banking, corporate banking, risk management and strategic restructuring. At Credit Suisse, he was most recently Regional Head Valais and Managing Director responsible for all of the bank’s activities within the Swiss canton. Schnyder is currently also President of the Valais Banking Association (AVB-WBV).
“Fides has been around for more than 100 years and is known and recognised for helping businesses around the world solve their cash and liquidity management challenges,” said Schnyder. “That is an incredible track record. I am excited to be part of the organisation’s next era of growth and lead the team to further success.”
Fides offers its more than 4,000 customers the largest network of any bank connectivity provider, with connections to over 13,000 financial institutions around the globe. Fides ONEHub enables businesses to optimise treasury workflows and scale to meet business requirements, accelerating daily operations and acting as a catalyst for innovation. And Fides is the only provider to offer clients a unique, dual-BIC option for SWIFT connectivity, in addition to managing numerous other connectivity channels including Host-to-Host, EBICS and APIs.
