Swiss family entrepreneur behind new bank initiative

Philippe Gaydoul, grandson of Swiss supermarket entrepreneur, Karl Schweri, is one of three prominent financiers linked to the launch of a new bank in Switzerland.
 
Reports in the Swiss media say Gaydoul has teamed up with Marcel Rohner, the controversial former chief executive of UBS, and Thomas Matter, the former boss of local bank Swissfirst.
 
Gaydoul will take a 9.5% stake in the new venture, which has yet to be named.
 
The new bank is expected to concentrate on investment and corporate banking, say reports.
 
Gaydoul's wealth comes from Swiss retail chain the Denner Group, the country's third largest supermarket group, which his grandfather built up after buying a majority stake in the trading company more than 60 years ago.
 
Schweri handed over control of Denner to his grandson in 2000 and seven years later Gaydoul sold 70% of the company to Migros, Switzerland's largest supermarket chain. Denner had revenues of more than CHF3 billion in 2009.
 
Gaydoul, who is president of the Swiss Ice Hockey Association, still owns the remaining shares in Denner.
 
The Gaydoul's family wealth is managed by the eponymous investment office, which invests in a number of sectors, including retail and consumer companies, and real estate.
 
Gaydoul Asset Management manages the indirect investments of the family.

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