Executive Board

Group Executive Board of Luzerner Kantonalbank

In accordance with the company's Articles of Association1) and the provisions of banking law, the Executive Board, as a collective body, is responsible for managing the entire business of Luzerner Kantonalbank. The members of the Executive Board also form the Group Executive Board.

The Executive Board consists of the CEO and four other members reporting to the CEO. The heads of the independent Risk Control and Compliance functions report directly to the CEO. All members of the Executive Board are heads of a department. In addition to the organisational and business regulations2), there are separate regulations for the Executive Board, whereby the relevant points in connection with the stock corporation law3), the DCG of the Swiss Stock Exchange4) as well as FINMA Circular 2017/01 ‘Corporate governance – banks’5)and the FINMA Ordinance on Disclosure Obligations of Banks and Securities Dealers (DisO-FINMA) are included in this report.

There were no significant changes to LUKB's organisational structure in 2025. The composition of the Executive Board also remained unchanged.

Beat Hodel, Head of the Corporate Clients & Private Banking department, retired at the end of February 2026. His successor, Désirée von Michaelis, has been a member of the Executive Board and head of the department that has been renamed ‘Private Banking & Corporate Clients’ since 1 March 2026.

1) https://www.lukb.ch/ueber-uns/portraet/statuten
2) https://www.lukb.ch/ueber-uns/portraet/statuten
3) https://www.fedlex.admin.ch/eli/cc/27/317_321_377/en
4) https://www.ser-ag.com/en/topics/corporate-reporting.html
5) https://www.finma.ch/en/documentation/circulars/

Members, activities and vested interests

(valid as at 31 December 2025)

Daniel Salzmann

CEO, Head of the Office of the President

Member of the Executive Board since 2004 (CEO since 2014)
Born in 1964, Swiss, resident in Meggen (Canton of Lucerne)

Education, activities and vested interests

Education
  • Advanced Management Programme at INSEAD, Fontainebleau (France)
  • Advanced Executive Programme, Kellogg School of Management, Evanston/Chicago (USA)
  • Executive MBA at the Lucerne School of Business
Professional experience
2004–2014 Head of the Private and Commercial Clients (Retail Banking) Department at Luzerner Kantonalbank
2003 Member of the Executive Board of Bank Coop
From 1993 Various management positions in retail banking at the former SBG (now UBS) and Credit Suisse
1990–1993 Head of Accounting/Controlling at Ascom Telematic AG
Significant appointments at other companies
  • Member of the Board of Directors
  • Belvédère Asset Management AG, Glarus
  • FG Next Holding AG, Zug
  • Swiss Bankers Association – Swiss Banking, Basel
  • Association of Swiss Cantonal Banks (ASCB), Basel
  • Management of St. Niklausen Schiffgesellschaft Genossenschaft (SNG), Lucerne
  • Vice Chair of Viseca Payment Services AG, Zurich
  • Member of the Board of Trustees of the Lucerne Economic Development Foundation, Lucerne
  • Member of the Executive Board
  • Central Switzerland Chamber of Industry and Commerce (IHZ), Lucerne

Stefan Studer

Head of the Private & Commercial Clients Department

Member of the Executive Board since 2015
Born in 1974, Swiss, resident in Meggen (Canton of Lucerne)

Education, activities and vested interests

Education
  • Advanced Management Programme at INSEAD, Fontainebleau (France)
  • lic. rer. pol., University of Fribourg
Professional experience
2011–2014 Head of Corporate Client Business for the LU/NW/OW/UR market region at Credit Suisse, Lucerne
2009–2011 Vice President of Product Management at Credit Suisse, Zurich
2007–2008 Partner and founder of Sidus Capital AG, Zug
From 2001 Various management positions at Unilever Switzerland, Thayngen
Significant appointments at other companies
  • Member of the Board of Directors
  • BES Holding AG, St. Gallen
  • NNH Holding AG, Zurich
  • newhome.ch AG, Zurich
  • Chair of the Board of Trustees of Fürsorgestiftung Trägerverein Luzerner Sinfonieorchester (LSO), Lucerne
  • Member of the Board of Trustees of the Pension Fund of Luzerner Kantonalbank, Lucerne
  • Member of the Board of Trustees of Stiftung Konzerthaus Luzern, Lucerne
  • Member of the Board of Trustees of GSW Gemeinnützige Stiftung für preisgünstiges Wohnen, Lucerne
  • Member of the Investment Committee of the Pension Fund of Luzerner Kantonalbank, Lucerne

Beat Hodel

Head of the Corporate Clients & Private Banking Department

member of the Executive Board from 2009 to 28 February 2026
(from 1 March 2026: Désirée von Michaelis)
Born in 1966, Swiss, resident in Oberkirch (Canton of Lucerne)

Education, activities and vested interests

Education
  • Advanced Management Programme at INSEAD, Fontainebleau (France)
  • lic. oec. publ. University of Zurich
Professional experience
2016–2022 Head of the Market Services Department at Luzerner Kantonalbank
2009–2016 Head of the Corporate Clients Department at Luzerner Kantonalbank
From 1993 Various management positions at the Swiss Bank Corporation and UBS in Zurich, Basel and New York – mainly in the Corporate Clients division
Significant appointments at other companies
  • Vice Chair of the Board of Directors of RSN Risk Solution Network AG, Zurich
  • Member of the Executive Board and Chair of the Finance Commission of GEFA Wohnbaugenossenschaft, Lucerne

Simon Kauth

Head of the Technology & Services Department

Member of the Executive Board since 2023
Born in 1968, Swiss, resident in Zollikon (Canton of Zurich)

Education, activities and vested interests

Education
  • Dr oec. University of St. Gallen
Professional experience
2015–2022 Member of the Executive Board of finnova AG Bankware, Lenzburg
Head of Product Management (December 2016 to 2022)
Head of Development (2015 to May 2017)

2009–2015 BPO Business Architect (2014 to 2015) at Avaloq Group AG, Zurich
Managing Director (2012 to 2014) at Avaloq Innovation Ltd., Edinburgh
Head of Innovation Development (2009 to 2012) at Avaloq Evolution AG, Zurich

2000–2009 Head of Front Applications at Bank Vontobel AG, Zurich
1995–2000 Head of Development at Almafin AG, St. Gallen
Significant appointments at other companies
  • Member of the Executive Board of Büchler Lernberatung GmbH, Zurich

Marcel Hurschler

Head of the Finance & Investment Department / CFO, Deputy CEO

Member of the Executive Board since 2008
Born in 1967, Swiss, resident in Sempach (Canton of Lucerne)

Education, activities and vested interests

Education
  • lic. oec. publ. University of Zurich
Professional experience
Since 2001 Chief Financial Officer (CFO) at Luzerner Kantonalbank
1996–2001 Head of Controlling/Risk Management at Luzerner Kantonalbank
From 1993 Various roles in accounting, controlling and risk management at Luzerner Kantonalbank
Significant appointments at other companies
  • Member of the Board of Directors of Musegg Parking AG, Lucerne (Finance Committee)
  • Member of the Investment Committee of the Pension Fund of Luzerner Kantonalbank, Lucerne
  • Member of the Sempach City Council (Executive, Planning, Environment and Energy Department), Sempach

Rules of the Articles of Association regarding permissible activities

Pursuant to Article 24 Para. 12 of the Articles of Association1), the maximum number of additional mandates of members of the Executive Board is:

  • one mandate at a listed company; and
  • five mandates at unlisted companies or other legal entities

Any mandates in comparable positions at other companies with a commercial purpose shall be treated as separate mandates. Any mandates in different legal entities under common control or that have the same beneficial ownership shall be treated as one single mandate.

There shall be no restrictions on the number of mandates at legal entities controlled by Luzerner Kantonalbank, as well as mandates at associations, foundations, non-economic family foundations and employee benefits foundations.

All members of the Executive Board comply with the rules laid down in the Articles of Association.

1) https://www.lukb.ch/ueber-uns/portraet/statuten

Management contracts

There are no management contracts between Group companies and non-Group companies or natural persons.