Q and A with Marco Tullio Valiante, Head of Switzerland – PCS International 

Marco Tullio Valiante joined PCS International in January 2022 as the Head of Switzerland with over 25 years of experience in wealth management and private banking. Marco was previously with UBS, where he was the Global Head of Life Insurance Solutions for Wealth Management. He has held various positions in UBS, first in Italy and then in Switzerland, focusing on product management and advisory for wealth planning solutions; substantially contributing to the growth in assets under management and return on assets for the bank. He has also held similar roles at Merrill Lynch.

Marco has a MSc. in Economics and Accounting from the University of Venice Ca' Foscari in Italy, and he is a Certified Financial Accountant.

The common theme in my career, the purpose I am passionate about, is helping clients look after their families – both now and into the future. As I progressed in my banking and wealth management roles, it became increasingly apparent that insurance products are key in safeguarding lifestyles and generational wealth. I also realised I could have more impact in an insurance brockage because it is a client-led, unbiased function.

I already knew of PCS from past collaborations as a banking partner and was excited by the prospect of working in the organization. I understood I could bring a 360-degree perspective to the insurance broking process as my previous roles gave me an important insight – the knowledge of exactly what bankers expect from brokers in an insurance partnership.

I also really love PCS’s ethos of building solutions entirely led by each client’s unique context and needs.

Due to its stability, world-class reputation as a financial centre, and geographic position in the middle of Europe, Switzerland is one of the most important financial platforms for international private clients. While new private wealth is increasingly created in Asia and the US, wealthy clients globally want to diversify their booking centre and Switzerland is still a preferred destination. It is, therefore, crucial for PCS to build a strong presence here, and we are absolutely committed to doing so. Our first key goal is to strength our relationships with all our banking partners.

There are two general trends that make Switzerland uniquely suited to our global growth strategy. Firstly, clients are needing more insurance options and we are able to offer a full spectrum of product choices. While European clients are generally seeking the more traditional life protection products, there is increasing appetite from international, non-European clients for products such Private Placement Life Insurance (PPLI) and Variable Universal Life (VUL). PPLI and VUL are gaining popularity because they offer a combination of insurance elements with a high degree of personalization; adjustments can be made to better meet individual client’s specific wealth management needs.

The second trend is driven by growing complexity. As geographic mobility, sophistication in asset markets, diversification needs and life in general become more complex, the wealth planning needs of our clients are also becoming more multifaceted. Individual requirements need nuanced responses and products, driving the demand for product innovation and personalized servicing. PCS in Switzerland are in a fantastic position to address that complexity as we grow and establish a larger footprint.  We are also able to leverage our global capabilities and unique solutions offering.

However sophisticated, Switzerland is a very small place, and the finance sector here is even more so. In a sphere where everyone knows everyone else’s reputation, having strong relationships is crucial and that’s where we are focused. Strengthening my connections with previous colleagues is an important part of the process, as is introducing our full service and product offering.

As a team, we are determined to build our banking partners’ trust and confidence that PCS is committed to Switzerland and in growth mode.

It really is an exciting time, and I am proud to be part of the PCS team.