Radicant to sell fiduciary business in cost-cutting programme

Digital banking group Radicant is launching a cost-cutting programme alongside its main owner Basellandschaftliche Kantonalbank (BLKB).

Radicant plans to sell its fiduciary business as part of the process. BLKB has written down its stake in Radicant by CHF 105.5m after delays in integrating the unit.

Roland Kläy, the chief financial officer, chief risk officer and deputy CEO of Radicant, is leaving at the end of September for a new challenge. This follows the announcement that BLKB’s CEO, John Häfelfinger, and chair of the board of directors, Thomas Schneider, are also departing.