Posting profits is a priority for Die Schweizerische Post (also known as Swiss Post). The state-owned postal monopoly operates a network of about 2,400 post offices across Switzerland and transports letters and parcels. Besides delivery-related operations, financial services are a major revenue source for Swiss Post. Its PostFinance offerings include savings accounts, mortgage lending, and mutual funds. Swiss Post also provides direct marketing, print media, and document services. The company has partnerships with Swiss banking giant UBS and German bank Münchener Hypothekenbank. In addition, Swiss Post's PostBus transportation service carries 110 million passengers a year.
With the European Union pushing through laws deregulating state-owned postal monopolies (parcel delivery is completely deregulated), Swiss Post has restructured itself in order to be more competitive. With mail volumes dropping steadily, Swiss Post has been evaluating more than 400 of its post offices to see if they should remain open. At the same time, the company's financial services unit has been growing so Swiss Post plans to spend some €68 million ($96 million) to equip between 20 to 30 post offices with PostFinance consulting areas.
Swiss Post also is working to expand its business in Europe. The company has some 20 subsidiaries in Europe, Eastern Europe, Asia, and the US; about 20% of its sales are from markets outside Switzerland. In April 2010 the company acquired MCM Direct Limited, pocketing all of the Southampton, UK-based business' postal services. The investment positions Swiss Post to snatch up UK commercial accounts demanding cross-border mail and dispatch services from and to the UK. The deal followed the company's acquisition in February of ABC Mail and Mail Partners, Spanish companies owned by Netherlands-based ABC Mail Group.
In December 2009 Jürg Bucher took over as Swiss Post's new CEO. Bucher, who has held senior positions at Swiss Post including leading PostFinance, succeeded Michel Kunz, who resigned after a showdown with Board Chairman Claude Begle. Interestingly, a month later Begle resigned under pressure from the Swiss Federal Council. He was replaced by Peter Hasler, who has served as chairman of the boards of various Swiss companies and institutions. – less