Stefano Zoffoli

Chief Strategist, Balanced Mandate Team Leader (Portfolio manager for special mandates)

Stefano Zoffoli has headed the Balanced Mandate team since mid-2016, which is responsible for the administration of mixed institutional mandates and funds.

Before joining Zürcher Kantonalbank in 2016, he worked for the Swiss private bank Rüd Blass in Zurich from 2008, which was incorporated into Deutsche Bank in 2009. There he was responsible for managing special mandates and multi-asset funds in the Private Wealth department. From 1997 to 2008, he worked for Julius Baer Asset Management. He began his career as an economist at Credit Suisse, where he worked in Zurich, Hong Kong and Singapore between 1992 and 1996.

Stefano Zoffoli holds a Master of Arts degree in economics from the University of Zurich.

He often contributes to our blog with current market assessments.

Blog posts

USA intervenes in Iran conflict

Over the weekend, the USA bombed several Iranian nuclear and military facilities. What are the implications for the global financial markets? We see three possible scenarios.

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Upcoming earnings season tests markets

Although the current situation looks more like an easing on the customs front, we are concerned about the upcoming earnings season. We therefore remain underweight in US equities.

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Will the US government soon have to back down on tariffs?

President Donald Trump's administration wants to protect the domestic industry from foreign competition with import tariffs of around 22 per cent. We expect the announcements that have been made to be toned down.

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The US election has been decided. What this means for US debt

Donald Trump wins the US elections. But even under him, the US debt mountain is likely to continue to grow. The consequences of this - briefly explained in ten questions and answers.

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Is the wage-price spiral about to appear?

As a result of higher commodities prices and supply chain problems as well as a surge in economic demand after the pandemic, prices for consumer goods are rising across the board. Upward pressure on wages is therefore increasing, too. This development has consequences for equities.

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