A loan of 30 million euros to the insolvent Signa Group proved to be the downfall of the Swiss private bank Ihag. A large part of the loan had to be written off, the institute slipped into the red and is closing down.
Ihag officially justifies this with the “difficult market environment” and “lack of growth opportunities”. The bank was founded in 1949. The customers will now be taken over by Vontobel Bank. 76 employees are affected by the closure.
According to media reports, the board of directors of the private bank in 2023 included Wüstenrot boss and former Austrian Vice Chancellor Susanne Riess-Hahn, who was also on the supervisory board of Signa Prime until the beginning of 2024. However, she is no longer listed on the Ihag website.
