At their fourth annual joint press conference in Berne, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV) today presented the priorities of Swiss banks offering wealth management services for securing their future in an ever more demanding environment. The associations explained that implementing differentiated regulation and market access in particular would boost the competitiveness and vitality of Swiss private banks. The Chairmen of the two associations, Yves Mirabaud and Boris Collardi, took turns to outline a number of approaches for the future.

At their joint press conference, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV) focused on two issues which will play a significant role in shaping their sector over the next few years. On the one hand, it was clearly demonstrated that Swiss private banking exhibits all of the characteristics of a classic export industry. It is thus reliant on being able to export its services without hurdles, in particular to EU countries. On the other hand, the scope of banking secrecy is now also an issue for Swiss clients. It is up to Switzerland’s citizens to decide on the country’s general approach in this regard when they vote on an upcoming popular initiative. Whether the initiative is passed or not, the private banks wish the tax system to remain coherent.