Employee development and retention
Bellevue Group AG is committed to respecting human rights and to fair, responsible labour practices throughout the entire employee lifecycle. HR processes – including recruitment, hiring, training, professional development, compensation, coaching, promotion and termination – are designed to ensure equal opportunity, non-discrimination and respectful treatment. Personnel decisions are based on qualifications, performance and experience. Bellevue promotes the continuous professional and personal development of its employees and ensures appropriate working conditions as well as transparent and fair remuneration.
For a service company like Bellevue, employees are the most critical asset for long-term success. High employee engagement and strong identification with the company underpin our success. We foster a strong entrepreneurial culture with flat hierarchies, high self-responsibility, and flexibility in terms of working hours, workload and work location. The historically low voluntary turnover rate and high average length of service are testimony to strong employee identification with the company.
The value Bellevue creates for clients is inseparable from the expertise, motivation and high identification of Bellevue employees with the company, so we attach great importance to selecting the right kind of talent. The suitability of a candidate is typically evaluated in a process involving multiple selection stages and assessments, with special consideration given to soft skills such as teamwork and compatibility with company values, in addition to professional expertise. From an employee perspective, the manageable size of the company and resultant ease in establishing personal connections is a major success factor. Discrimination by criteria such as age, background and gender is not acceptable.
Our goals:
- Bellevue aims for a voluntary turnover rate of under 10%
- Bellevue also aims for an employee survey response rate above 75%
In the 2025 financial year, the voluntary turnover rate increased to 10.3%. The rise can be attributed to multiple factors. On the one hand, long-standing employees sought new challenges; on the other hand, strategic decisions led to certain employees leaving Bellevue in 2025. For 2026, we expect the turnover rate to return to the targeted range of below 10%.
In October 2025, Bellevue Group once again conducted a group-wide employee survey, implemented in collaboration with the independent research institute ICommit. The aim of the survey was to assess employee satisfaction and engagement and to identify specific areas for the company’s further development.
Employment
The following tables provide an overview of the number and type of employees. The figures refer to the actual number of employees as of December 31 of the respective year.
Total number of employees | 2025 | 2024 | 2023 | 2022 | ||||
Switzerland | 60 | 71 | 72 | 74 | ||||
- thereof men | 39 | 49 | 51 | 55 | ||||
- thereof women | 21 | 22 | 21 | 19 | ||||
Europe | 13 | 20 | 24 | 26 | ||||
- thereof men | 8 | 14 | 16 | 18 | ||||
- thereof women | 5 | 6 | 8 | 8 | ||||
Other | 4 | 2 | 4 | 4 | ||||
- thereof men | 3 | 1 | 3 | 3 | ||||
- thereof women | 1 | 1 | 1 | 1 | ||||
Total | 77 | 93 | 100 | 104 | ||||
- thereof men | 50 | 64 | 70 | 76 | ||||
- thereof women | 27 | 29 | 30 | 28 |
Apart from interns, Bellevue does not employ temporary workers or workers who do not have guaranteed hours.
Split full vs part-time employees | 2025 | 2024 | 2023 | 2022 | ||||||||
Full-time | Part-time | Full-time | Part-time | Full-time | Part-time | Full-time | Part-time | |||||
Switzerland | 42 | 18 | 52 | 19 | 54 | 18 | 57 | 17 | ||||
- thereof men | 32 | 7 | 41 | 8 | 44 | 7 | 48 | 7 | ||||
- thereof women | 10 | 11 | 11 | 11 | 10 | 11 | 9 | 10 | ||||
Europe | 11 | 2 | 18 | 2 | 21 | 3 | 21 | 5 | ||||
- thereof men | 7 | 1 | 13 | 1 | 15 | 1 | 16 | 2 | ||||
- thereof women | 4 | 1 | 5 | 1 | 6 | 2 | 5 | 3 | ||||
Other | 4 | – | 2 | – | 4 | – | 4 | – | ||||
- thereof men | 3 | – | 1 | – | 3 | – | 3 | – | ||||
- thereof women | 1 | – | 1 | – | 1 | – | 1 | – | ||||
Total | 57 | 20 | 72 | 21 | 79 | 21 | 82 | 22 | ||||
- thereof men | 42 | 8 | 55 | 9 | 62 | 8 | 67 | 9 | ||||
- thereof women | 15 | 12 | 17 | 12 | 17 | 13 | 15 | 13 | ||||
Part-time employees at Bellevue enjoy the same social insurance benefits as full-time employees. All permanent employees are given the option to increase their pension contributions. Pension contribution rates can be changed once every calendar year. Since Bellevue is not a party to any collective bargaining agreements, the terms and conditions of employment for its employees are not affected by such agreements.
In fiscal 2025, a total of 17 employees were hired across all regions.
Number of new hires | 2025 | 2024 | 2023 | 2022 | ||||
Switzerland | 12 | 9 | 6 | 13 | ||||
- thereof men | 10 | 5 | 3 | 10 | ||||
- thereof women | 2 | 4 | 3 | 3 | ||||
Europe | 1 | 1 | 4 | 2 | ||||
- thereof men | – | 1 | 3 | 2 | ||||
- thereof women | 1 | – | 1 | – | ||||
Other | 4 | 1 | – | – | ||||
- thereof men | 3 | – | – | – | ||||
- thereof women | 1 | 1 | – | – | ||||
Total | 17 | 11 | 10 | 15 | ||||
- thereof men | 13 | 6 | 6 | 12 | ||||
- thereof women | 4 | 5 | 4 | 3 | ||||
By age groups | ||||||||
>50 | 2 | 3 | 2 | 1 | ||||
30-50 | 14 | 7 | 7 | 11 | ||||
<30 | 1 | 1 | 1 | 3 | ||||
Total | 17 | 11 | 10 | 15 | ||||
Recruitment rate 1) | 20.0% | 11.4% | 9.8% | 14.8% | ||||
- thereof men | 15.3% | 6.2% | 5.9% | 11.8% | ||||
- thereof women | 4.7% | 5.2% | 3.9% | 3.0% |
1) The recruitment rate is calculated as follows: Number of new employees / ([Number of employees at the start of the year + Number of employees at year-end] / 2)
The fluctuation rate at Bellevue is calculated on the basis of voluntary departures.
2025 | 2024 | 2023 | 2022 | |||||
Employee turnover rate | 10.3% | 9.3% | 10.8% | 3.9% | ||||
- thereof men | 10.3% | 5.2% | 8.8% | 2.0% | ||||
- thereof women | 0.0% | 4.1% | 2.0% | 1.9% | ||||
- thereof Switzerland | 9.2% | 4.2% | 7.9% | 2.9% | ||||
- thereof Europe | 1.1% | 4.1% | 2.9% | 1.0% | ||||
- thereof Other | 0.0% | 1.0% | 0.0% | 0.0% |
Bellevue employees receive the parental leave prescribed by law in each country, which is utilised by all those entitled to it without exception. Further parental leave (as part of unpaid leave) was also granted without exception in 2025. With one exception, all employees then returned to work.
2025 | 2024 | 2023 | 2022 | |||||
Total number of employees with entitlement | 2 | 4 | 3 | 5 | ||||
- Male | 1 | 1 | 2 | 3 | ||||
- Female | 1 | 3 | 1 | 2 | ||||
Total number of employees who have received | 2 | 4 | 3 | 5 | ||||
- Male | 1 | 1 | 2 | 3 | ||||
- Female | 1 | 3 | 1 | 2 | ||||
Return after parental leave | 1 | 3 | 3 | 3 | ||||
- Male | 1 | 1 | 2 | 3 | ||||
- Female | – | 2 | 1 | – | ||||
Return and still employed after 12 months | 1 | 2 | 3 | 3 | ||||
- Male | 1 | 2 | 3 | 3 | ||||
- Female | – | – | – | – |
Occupational Health and Safety
The health and safety of our employees and of all individuals affected by our business activities are of the highest priority for Bellevue Group. As an employer, we regard it as our responsibility to contribute positively to the physical and mental health of our employees through appropriate working conditions and targeted measures, and to support them in remaining productive, healthy and motivated over the long term.
To promote health and well-being, we rely on a combination of preventive initiatives, health-promoting infrastructure and a supportive corporate culture. At our Zurich location, employees are offered a complimentary daily breakfast including bread and fruit; beverages as well as coffee and tea are also provided free of charge. In addition, employees receive an annual contribution towards fitness activities.
All workstations are ergonomically designed and equipped with height-adjustable desks and ample natural daylight. In this way, we help prevent work-related health strain and foster a healthy working environment.
To support preventive healthcare, we offer our employees a free annual flu vaccination, administered at Bellevue’s headquarters by an external physician. Participation is voluntary and forms part of our preventive health approach.
Team cohesion («Bellevue Team Spirit») is actively encouraged through regular social events such as summer parties and joint lunch barbecues. In our view, social interaction and team spirit make an important contribution to mental well-being and a positive working atmosphere.
As an asset manager with a clear focus on the healthcare sector, health is also firmly embedded in our corporate culture from a content perspective. The analysis of and investment in healthcare companies is a core component of our investment strategies. Our experts regularly speak internally and externally on current developments and challenges in the healthcare sector. Professional exchange on topics such as the rise of lifestyle diseases, nutrition, physical activity and prevention helps to sustainably strengthen health awareness among our employees.
Remote Work and Flexible Working Models
As a modern employer, Bellevue Group enables its employees – where the role permits – to work partially from home. This flexible working model supports the reconciliation of professional and private life and contributes to a better work-life balance.
The option to work from home is valued by employees in particular for the increased flexibility, the elimination of commuting time and the more efficient organisation of the working day. At the same time, remote work contributes to employee well-being and to the long-term attractiveness of Bellevue Group as an employer.
Working Time Arrangements and Work Organisation
Bellevue Group places importance on transparent and reliable working time arrangements that comply with legal requirements while taking into account the diverse needs of employees. Working time structures are designed to enable a balanced relationship between operational requirements and individual flexibility.
Weekly working hours and the organisation of working time depend on the respective functions, responsibilities and contractual agreements. Flexible working time models allow employees to organise their working day independently and support the reconciliation of professional and private life.
Compliance with applicable working and rest time regulations is ensured. Managers bear particular responsibility for appropriate work organisation and a realistic workload within their teams. The objective is to prevent excessive workload and to promote the sustainable performance of employees.
Training and education
As a highly specialized investment boutique, Bellevue employs dedicated, reliable, and well-trained staff who stay current and upgrade their skills. The company supports its employees in maximizing their development potential by providing an environment and tools that foster personal and professional growth and continuing education at all levels and in all areas of responsibility. Through regular employee performance and career development reviews (MBO approach), individual profiles are identified and strengthened by targeted measures such as specialist education, leadership and management training, upgrading of skills in various work techniques, internal and/or external IT training or language courses.
Our employees receive regular training on cyber security and the importance of protecting client data. All new employees are required to successfully complete data protection training within the first three months of their employment. In addition, existing employees have been trained in line with the latest standards within the past two years.
The company distinguishes between two career paths: «executive» and «expert». These are considered to be of equal value and can be pursued complementarily based on personal aptitude. Potential employees suited for an executive career undergo a management development program to prepare them for their future role.
Every employee has a formal, structured annual review to evaluate their progress, discuss individual career development measures and define next steps, with the emphasis on evaluating individual education opportunities. Bellevue covers a significant portion of the costs and, if necessary, provides paid time off for training.
In the 2025 reporting year, completed training hours were recorded systematically for the first time. The table below shows the average number of education and training hours per employee (excluding webinars) completed during the reporting period.
Average hours per employee | 2025 | |
Total | 15 | |
Male | 12 | |
Female | 22 |
Training all employees on relevant compliance topics (including anti-corruption) is essential to ensuring adherence to company-wide compliance requirements. In the 2025 financial year, the following compliance training sessions were conducted: market conduct (all employees), Code of Conduct (portfolio managers), cross-border regulations (all employees), cyber security (all employees), general compliance/policy training (all new employees), as well as online training sessions on Generative AI and ChatGPT Enterprise (all employees). In addition, all employees complete annual e-learning modules in the area of cyber security.
Employee engagement
In October 2025, Bellevue Group once again conducted a group-wide employee survey. The survey was again carried out in collaboration with the independent research institute ICommit. The aim of the survey was to assess the current level of employee satisfaction and engagement within the company and to identify targeted areas for further development.
The response rate increased compared to the previous survey and reached 78% (previous period: 73%). With around 80 employees, the improved participation rate compared to the first survey shows that a large proportion of employees are willing to actively provide feedback to support the further development of Bellevue Group.
The results of the survey were carefully analysed by Executive Management. Based on this analysis, concrete measures will be defined to further build on existing strengths and to specifically address identified areas for improvement.
The survey results and the planned measures will be communicated to employees in the first quarter of 2026.
Employee bonus programs
In the spirit of identification with the company and the entrepreneurial activities of each employee at his or her level, we give employees across all hierarchical levels a share in the success of the company.
The compensation system for Bellevue employees is conceived to motivate employees at all operating units to strive for excellence. This is «entrepreneurial compensation with commitment» – a meritocratic model. It comprises an attractive entrepreneurial profit-sharing bonus as variable compensation. This profit-sharing bonus is directly linked to the operational financial performance of Bellevue. In addition, part of this variable profit-sharing bonus is paid out in the form of blocked shares and stakes in the products we manage. This approach promotes a long-term high-performance culture. Further information is disclosed in the annual remuneration report.
Furthermore, Bellevue periodically offers an employee share ownership program. The Board of Directors approves a voluntary employee stock ownership plan on an annual basis under which employees are entitled to purchase shares of Bellevue Group at a discount to the market price.