ZKB has steadily grown over the past 154 years into one of the world's most well-capitalized universal banks, primarily serving the Zurich economic area. With its diverse service of-ferings, ZKB caters to a broad range of clients. As part of its international activities, ZKB’s private banking division focuses on high-net-worth individuals, with the UK being a core market. The recent Berne Financial Services Agreement between CH and the UK offers new growth opportunities for ZKB's UK private banking division, positioning it to enhance its services and expand its market presence.

The thesis employed a mixed-methods approach, combining theoretical and empirical analysis to explore the strategic growth potential of ZKB's UK private banking division under the MRA between CH and the UK. The research design includes a gap analysis, SWOT, and PESTEL assessments to identify growth opportunities and challenges. Data collection leverages ZKB’s current customer data and market statistics, while analysis integrates both quantitative and qualitative methods. Limitations include the ongoing ratification of the MRA and time constraints, which may affect the depth of the study.

The Mutual Recognition Agreement between Switzerland and the UK offers Zürcher Kantonalbank significant opportunities to expand its UK private banking division by simplifying cross-border financial services. Analyses reveal ZKB's strengths, such as a robust brand and private banking expertise, alongside challenges like high compliance costs and limited market reach. The potential to target UK clients with assets over £2 million presents substantial growth prospects. However, uncertainties persist regarding the MRA's final ratification and the evolving tax landscape, which may affect the UK's high-net-worth population. To capitalize on these opportunities, ZKB should update its UK Country Manual, develop a concrete market strategy, and expand its UK team to ensure adequate resources for effective market engagement. Continuous monitoring of regulatory changes and strategic investments in compliance, technology, and human resources are essential for sustained success in the dynamic financial sector.