Swiss pension funds are exploring the possibility of changing their service providers following the merger of UBS and Credit Suisse. This move is driven by the desire to diversify investments and reduce concentration risks in the financial market. While some funds are already considering new tenders for specific services, experts predict that significant market shifts may not occur until the first half of 2024.The area of financial products is expected to see the most potential for change, as there are numerous providers offering solutions suitable for Swiss pension funds. However, switching support and custody services is a more complex process. It is anticipated that large Swiss providers will be able to attract business in this area.The Zurich Cantonal Bank (ZKB), which is set to become the second-largest player in the pension fund industry after the UBS merger, believes it is well-positioned to take advantage of the demand for diversification and specialized services. As one of Switzerland’s largest asset managers, the ZKB has achieved significant growth both domestically and internationally in recent years.To facilitate the transition for pension funds, the ZKB has established its own team of “onboarding specialists.” These experts assist in planning and implementing the transition process, ensuring a smooth and efficient execution.Overall, the merger of UBS and Credit Suisse has created opportunities for competitors in the Swiss pension fund industry. As funds seek to navigate the changing landscape and optimize their investments, service providers that offer diversification and specialized services are expected to thrive.

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