Latest news

June 10, 2022
Private Banking Day 2022
Swiss Private Banking: agility and strong values required
On the sixth Private Banking Day, held by the ASPB and the VAV , the focus was on the future of the wealth management industry in Switzerland. Renowned players from the worlds of private banking, politics and the authorities discussed how the country can maintain its leading position, which framework conditions are required and which quality criteria the Swiss private banking industry should stand for.
Press release of June 10, 2022 Speech of Grégoire Bordier, President of the ASPB (FR)
June 3, 2022
Latest publications of the ASPB
A Plea For Freedom (G. Bordier) - Annual Report 2021
On the occasion of the publication of the annual report of the Association of Swiss Private Banks, its President Grégoire Bordier points out that during the last twelve months, freedom has suffered numerous attacks, which must be repelled.
A Plea For Freedom by Grégoire Bordier Annual Report 2021 of the ASPB (FR) Annual Report 2021 of the ASPB (DE)
Geneva, June 10, 2021

Private Banking Day 2021

Sustainable finance – an opportunity for wealth management
The contribution of private banks to the fight against the causes and harmful effects of climate change was the focus of the fifth Private Banking Day held by the ASPB and the VAV today in front of a large physical and virtual audience. Top experts discussed the conditions that must be satisfied in order to position the Swiss financial centre as a world-leading hub for sustainable finance.
Press release of June 10, 2021 Speech of Yves Mirabaud, President of the ASPB (FR)

The Director's blog

Jan Langlo writes a monthly financial column on the magazine Bilan's website. We invite you to read it by clicking on the link below.
More information (FR)
Geneva, May 15, 2020

Let's stay optimistic!

Article by Yves Mirabaud in l'Agefi
On the occasion of the publication of the 2019 Annual Report of the Association of Swiss Private Banks (ASPB), its President Yves Mirabaud recalls the good news of the past year in the daily newspaper “Agefi”. Looking beyond the current economic crisis, the ASPB sees three major challenges for Switzerland in the coming year: stabilising its relationship with the European Union, deploying a credible strategy for sustainable finance and reducing obstacles related to the withholding tax and the stamp duties. Find out more ASPB latest news by clicking this link.
Article by Yves Mirabaud in l'Agefi (FR)
Lucerne, May 17, 2019

Private Banking Day 2019

Efficiently combating cyber threats a key locational factor
The increasing threat of cyber attacks and ways of combating them efficiently were the focus of the fourth Private Banking Day held today in Lucerne by ASPB and VAV. Leading experts reported on the challenges from a global and national perspective and discussed not only specific threats, but also possible opportunities arising for Switzerland and its financial centre.
Press release (EN) Speech by Yves Mirabaud, President of the ASPB (EN)
Bern, May 16, 2019

Press point 2019

Financial centres in competition – EU market access as key factor
At their joint annual press conference, ASPB and VAV presented their assessment of Switzerland’s position as a wealth management location compared to its most important competitors: Switzerland scores well with regard to the competitiveness of the environment it offers, yet there is need for action when it comes to its tax policy and data protection regulation. In order to maintain its leading position, Switzerland needs to improve first and foremost its EU market access and the associated need for a stable bilateral relationship with the EU. An institutional framework agreement with the EU is a prerequisite for improving access to the market.
Press release (EN) Speech by Yves Mirabaud, President of the ASPB (EN) Speech by Marcel Rohner, President of the VAV (EN)
January 8, 2019

The Association of Swiss Private Banks is part of the banking History of our country

Did you know this? The ASPB has a long History dating back to the 16th century. At that time, the first Huguenots, fleeing from religious persecution, arrived at Basel, Geneva and Zurich. Due to their business network, commercial know-how and wealth, they have laid the foundations for the rise of banks in Switzerland, in particular private bankers. This inspiring story is referred to in the latest edition of the “Revue vaudoise de généalogie et d’histoire des familles». Order the book
discover (FR)
Lugano, May 25, 2018

Private Banking Day 2018

Swiss wealth management needs a model for European integration
The third Private Banking Day, held in Lugano and organised jointly by the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV), focused on issues concerning access to the European market and, more broadly, Switzerland’s relationship with the EU. The event brought together leading figures from the worlds of private banking, politics, economics and administration and showcased the canton of Ticino.
Press release Speech by Yves Mirabaud, President of the ASPB
Bern, January 18, 2018

Press point 2018

Boosting private banks with a programme of reforms and differentiated regulation
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.
Press release Speech by Yves Mirabaud, President of the ASPB Speech by Boris Collardi, President of the VAV
October 27, 2017

Withholding tax refund rules should be expanded

Latest News
Though a step in the right direction, the draft law currently circulated for consultation by the Federal Department of Finance, which aims to relax rules regarding the refund of the Swiss withholding tax, does not go far enough. The Federal Council should reformulate its draft to better reflect the role of the withholding tax as a guarantee – one that is no longer needed once income taxes have been paid. In doing so, the government would more closely follow the intent of the parliamentary initiatives underlying this law, which requested that the right to claim a refund be retained "provided earnings are taxed."
May 11, 2017

Private Banking Day 2017

Negative interest rates: a challenge for wealth management
Persistently low international interest rates and the negative interest rates introduced by the Swiss National Bank were the central themes of the second Private Banking Day, organised in Zurich on May 11, 2017, by the ASPB and the ABG. The event attracted numerous leading figures, who explored various avenues that could enable the wealth management export sector to continue to thrive in this context.
Press release Speech by Yves Mirabaud, President ASPB Speech by Boris Collardi, President ABG
March 27, 2017

Automatic exchange of information

Yes, after a final verification !
Since 1 January 2017, banks have been collecting tax information for 38 countries. The government proposes to add another 41 next year, in keeping with Switzerland’s commitments. However, the authorisation to be issued by Parliament does not exempt the government from verifying the existence of a level playing field and data confidentiality before information is exchanged in September 2019.
January 26, 2017

Press point 2017

Brexit and a changing environment call for a resolute financial centre strategy
At their joint press conference today, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV) have outlined how the Swiss financial centre must prepare the future. In particular, the question of market access remains crucial for the banks. And in order to enable the sector to continue its successful operations, three current topics are of vital importance : the approval of CTR III, stable relations with the EU and the rapid implementation of the FinSA/FinIA package.
President speech Press release Facts and figures
September 16, 2016

Counterproposal to the Matter initiative

It’s up to the Swiss people
On 5 September 2016, the consultation on the direct counterproject to the initiative "Yes to the protection of privacy" came to an end. The Association of Swiss Private Banks (ASPB) takes position neither for nor against the counterproject, in the belief that it is not the banks who should express their opinion but rather the citizens and taxpayers of this country, to whom banking secrecy belongs.
June 10, 2016

Private Banking Day 2016

Private banking – an export industry like any other
The future of wealth management in Switzerland came under the spotlight at the first Private Banking Day. As a largely export-led business, private banking is reliant on the access to the European single market and the flexible recruitment of qualified specialists also from abroad and, in particular, the EU. Invites to the Private Banking Day in Geneva were issued jointly by the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV-ABG). The event was attended by renowned exponents from the worlds of private banking, science, politics and administration.
discover Press release Speech by Yves Mirabaud, President of the ASPB
Bern, January 14, 2016

Press point 2016

Private banking as a key export industry for Switzerland
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.
Press release Speech by Yves Mirabaud, President ASPB
June 25, 2015

A new Director for the ASPB

Jan Langlo will lead the Secretariat
On 1 July 2015, Jan Langlo will become the new director of the Association of Swiss Private Banks (ASPB). He joined the ASPB in January 2014 as deputy director. Since then, he has focused on defending the interests of banks specialising in wealth management. The ASPB is delighted to benefit from Jan Langlo's extensive experience of fiscal and banking policy matters, which he has followed closely for the past several years at the national level, as well as his in-depth knowledge of the issues that most directly affect the ASPB and its members. He will replace the outgoing director Michel Dérobert, who will retire at the end of the year, after 25 years of tireless efforts on behalf of private banks. The ASPB thanks him warmly for his service.
April 21, 2015

Automatic exchange of information

With which countries?
The OECD and the G20 have decided to encourage the automatic exchange of information (AEI) to combat tax evasion worldwide. On 19 November 2014, Switzerland became the 52nd nation to sign the Multilateral Competent Authority Agreement (MCAA), which defines the principles of AEI. Consultation regarding the ratification of the agreement and the draft federal law for implementation ends on 21 April 2015. The central question for Swiss private banks is: to whom will Switzerland grant AEI?
April 15, 2015

Change at the head of the Association of Swiss Private Banks

Yves Mirabaud named as new Chairman of the ASPB
Yves Mirabaud, Senior Partner of Mirabaud SCA, has been named Chairman of the Association of Swiss Private Banks. The ASPB expects to benefit greatly from the experience and support of this energetic and forward-looking individual.
March 31, 2015

Withholding tax reform

The people should decide
Towards the end of 2014, the Federal Council initiated a consultation on its proposal for reforming the withholding tax, which would all but abolish this tax for non-residents while considerably broadening its scope for Swiss residents. The Association of Swiss Private Banks (ASPB) supports the first objective, but considers the second overly complicated and potentially unnecessary.
January 30, 2015

Press point 2015

Press release
On the occasion of their joint press conference, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV/ABG) presented the future outlook and framework conditions required to maximise opportunities for the Swiss wealth management industry. Though the financial sector is currently undergoing rapid change, it is more than ready to meet the challenge.
January 21, 2015

OECD standard on the exchange of information on request

A line that should not be crossed
On 19 February 2014, the Federal Council decided to apply the OECD standard on the exchange of information on request to all states with an existing double taxation agreement (DTA) that does not include said standard. The consultation on the draft law to implement this decision will extend until 5 February 2015. The ASBP views this project as unnecessary and contrary to the interests of Switzerland.
January 20, 2015

How to reinforce the swiss financial centre

Chairman speech
Christoph B. Gloor, Partner, La Roche & CO SCA, Basel Switzerland has shown it can be highly competitive. Its strength lies in its openness and stability, as well as in the predictability of its legal framework.
The Swiss financial centre ranks first in the world of wealth management. To maintain its lead, our country must have the discipline to compare itself, in all areas that count, with its competitors, which would be only too eager to take its place.
October 17, 2014

The new structure of swiss financial legislation

A tree in need of pruning
On 27 June 2014, the Swiss Federal Council submitted for consultation two new draft acts on financial services (FSA) and financial institutions (FinIA). Under the guise of a conceptual restructuring, these drafts include many provisions prejudicial to the Swiss financial industry. Their texts need further pruning before they are submitted to Parliament in 2015. However, Parliament can first focus on passing the Financial Markets Infrastructure Act (FMIA), which is urgent.
September 23, 2014

Automatic exchange of information

Mastering the new reality
The OECD and the G20 have endorsed automatic exchange of information to fight against tax evasion worldwide. On 6 May 2014, the Swiss Federal Council announced that it intends to adopt the new standard, along with 65 other countries. Its implementation in Switzerland must steer clear from excessive naiveté.
March 27, 2014

Swiss financial market infrastructure act

An issue of competitiveness
In December 2013, the Swiss Federal Council launched a process of consultation on the draft Financial Market Infrastructure Act (FMIA). The Association of Swiss Private Banks (ASPB) recognises the necessity to adapt Swiss legislation to international standards and emphasises that this adaptation should aim to maintain the competitiveness of the Swiss financial centre.
January 16, 2014

Press point 2014

Speech by Christoph B. Gloor, Chairman
December 4, 2013

Changes in the Associations representing Private Bankers

Creation of the Association of Swiss Private Banks
June 7, 2013

Annual General Meeting 2013

Chairmann speech (document in French only)
Nicolas Pictet, Associé, Pictet & Cie, Président de l’ABPS Les grands virages législatifs se négocient aujourd'hui en dehors de nos frontières. Pour ne pas subir il faut participer. Pour être à la page il faut anticiper. Nous sommes aujourd'hui victimes d'une course de rattrapage. D'une façon ou d'une autre la Suisse doit retrouver sa place dans le monde et redevenir une force de proposition. Un pays isolé ne peut en effet protéger avec efficacité une industrie globalisée.
discover (FR)
January 17, 2013

Press point 2013