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Archive
View all archived speeches and articles from the Swiss Private Bankers Association
News
May 23, 2012
Politicking around the tax treaties
Switzerland could declare in the words of Voltaire, "Lord, protect me from my friends; I can take care of my enemies." Indeed, it is possible that the tax agreements thrashed out with Germany and the United Kingdom may not survive the cross fire of the extremes in its own parliamentary debate. And if they do get through, the German agreement could still be attacked by the AUNS (Aktion für eine unabhängige und neutrale Schweiz) in the form of a referendum. Therefore, Switzerland could ultimately see the surge of a nationalist and anti-German campaign which would increase tension in the already strained relations with its principal economic partner. Everyone would lose out. In sectors like tourism this is the last thing they need. So, let us look at the Swiss politics surrounding these treaties.
PRESS RELEASES
Geneva, June 15, 2012
2012 General Assembly
Speech by Nicolas Pictet, Chairman
Rarely in the past has the political pressure on the Swiss financial centre been as heavy as today, with pressure coming from abroad the European Union and USA in particular as well as from home.
Annual Press Point
January 12, 2012
Documents in French or in German (depending on original language)
The private bankers: a unique alternative in the banking landscape
Nicolas Pictet, Partner, Pictet & Cie, Chairman of the SPBA
The financial centre's competitiveness: how can domestic conditions be improved?
Christoph B. Gloor, Partner, La Roche & Co Banquiers, Vice-Chairman of the SPBA
Financial markets and the economy: What does 2012 hold in store?
Grégoire Bordier, Partner, Bordier & Cie
PUBLICATIONS
2011 Annual Report
Please note that the 2010 Annual Report is available in French or in German only
Le présent rapport annuel donne un aperçu des développements qui ont marqué, entre le début des mois de mai 2011 et 2012, les principaux dossiers suivis par l’Association des Banquiers Privés Suisses (ABPS). Le nombre de ces dossiers et leur degré de complexité impressionneront n’importe quel observateur. Mais, pour les banques qui, à l’instar des maisons membres de l’ABPS, sont actives dans la gestion de patrimoines privés et institutionnels, ils représentent une véritable gageure. Or, ces établissements forment le gros de la place financière suisse.
La place financière suisse face à ses défis
Lutte contre le blanchiment et le financement du terrorisme
Activités communes des banques suisses
2011 Annual Report in French (full version)
News
November 16, 2011
Changing Switzerland's withholding tax : haste makes waste
The Federal Council is planning to make fundamental changes to the current withholding tax and to adopt, in the case of interest paid on bonds and money market instruments, the so-called paying agent system. Without going into technical details, the proposed modification will offer some advantages. It is hoped, in particular, that it will revitalize the Swiss capital market and boost the investment banking activity in Switzerland (essentially the big banks). For the majority of natural persons, the overall situation will remain unchanged since the withholding tax will continue to be a safeguard tax. However, this reform will also have its disadvantages.
October 2011
Die Herausforderungen des Finanzplatzes Genf
Nicolas Pictet, Präsident Groupement des Banquiers Privés Genevois - "Schweizer Bank"
Oktober 2011 (only in German)
Der Finanzplatz Genf ist auf internationale Einbettung angewiesen. Das betrifft eidgenössische Themen wie die Ausländerpolitik, aber auch Genfer Kompetenzen, z.B. das Steuerrecht.
September 20, 2011
Banking sector employment: A major issue
Edouard Cuendet, Secretary-General of the Geneva Private Bankers Association and candidate for the National Council .
At the end of 2010, the banking sector employed 108,000 people in Switzerland, representing nearly 3.2% of the country's total workforce. If one includes independent asset managers and securities traders the figure tops 141,000 jobs.However the sector comes under pressure from several sides which, in turn, affect employment.
September 7, 2011
The Swiss financial centre at the crossroads : which way ahead?
Michel Dérobert, Secretary-General of the SPBA
32nd Bürgenstock Meeting of the Swiss Futures and Options Association.
The financial world is in turmoil. About three years ago, a number of gouvernments were obliged to come to the rescue of banks. Now the states themselves are facing a crisis of confidence. Since the beginning of the financial crisis, we have wittnessed a huge deployment of activity at all levels of responsibility - political, monetary, supervisory - but to little avail.
September 6, 2011
Les nouvelles normes bancaires nécessitent une approche différenciée et compétitive
Edouard Cuendet, Secretary-General of the Groupement des Banquiers Privés Genevois
only in French
Article published in "Agefi Magazine", September 2011
Les banques suisses sont confrontées à une vague réglementaire sans précédent dans le domaine des fonds propres. Cela ne doit pas se faire au détriment de la compétitivité de la place financière.
Press Releases
Ordinary Annual General Meeting
June 10, 2011
Wegelin & Co. Private Bankers, Chairman of the SPBA
Pictet & Cie, new Chairman of the SPBA (document in French only)
2010 Annual Report - document in French or in German only
Press point
January 13, 2011
What international strategy for the financial centre?
Dr Konrad Hummler, Partner, Wegelin & Co. Private Bankers, Chairman of the SPBA
The regulatory consequences of the financial crisis in Switzerland
Yves Mirabaud, Partner, Mirabaud & Cie, Chairman of the Geneva Private Bankers Association.
Financial markets and the economy; what does 2011 hold in store?
Nicolas Pictet, Partner, Pictet & Cie, Vice-chairman of the SPBA
Complementary documentation "Persectives 2011"
January 5, 2011
Nello Castelli appointed Assistant Secretary-General of the SPBA
Drawing from his extensive experience in public affairs, Nello Castelli will focus on the follow-up of political issues related to the Swiss financial centre at federal level. In particular, he will assure the liaison with members of Parliament. A qualified teacher and jurist, he will also be a member of the Swiss Bankers' Association's commissions and working groups dealing with political and economic issues. He will report to Michel Y. Dérobert, Secretary-General of the SPBA and for media related matters he will work with Chantal Bourquin, head of communications.
Publications
2010 Annual Report
Please note that the 2010 Annual Report is availabe in French or in German only.
Il n’est pas exagéré d’affirmer que l’environnement législatif et réglementaire dans lequel évoluent les membres de l’ABPS ressemble à un énorme chantier, sur lequel s’affaire une foule d’architectes, de contremaîtres et d’ouvriers, mais dont les maîtres d’œuvre, suisses et étrangers, semblent singulièrement manquer de vision d’ensemble.
Une place financière en chantier
Lutte contre la criminalité et règles d’identification de la clientèle
Activités communes des banques suisses
Download full version of 2010 Annual Report in French
NEWS
March 23, 2010
L'autorégulation doit-elle être jetée aux orties?
Michel Y. Dérobert, SPBA - article published in "Denaris", April 2010 (Only in French)
Depuis que la crise financière a éclaté, l’autorégulation n’a pas bonne presse. Considérée par certains comme un passeport destiné à permettre au loup de circuler librement dans la bergerie, cette méthode qui consiste à laisser les milieux professionnels édicter certaines réglementations a été vilipendée par les observateurs de tous bords.
Ceux-ci ont appelé de leurs voeux un retour massif à des réglementations étatiques, ignorant le fait que l’autorégulation est toujours pratiquée sous la surveillance des autorités compétentes. Faut-il brûler ce qu’on avait adoré ou, au contraire, se rappeler qu’en toute chose, seule la mesure compte?
Press Releases
Ordinary Annual General Meeting
June 11, 2010
Speech by Dr. Konrad Hummler, Wegelin & Co.Chairman of the SPBA - (document in German or in French only)
2009 Annual Report
(document in French or in German only)
Annual Press Point
January 14, 2010
What is the future for private banking in Switzerland?
Dr. Konrad Hummler, Partner, Wegelin & Co. Private Bankers, Chairman of the SPBA
Inventory of double taxation agreements and the need for a federal law
Anne-Marie de Weck, Partner, Lombard Odier Darier Hentsch & Cie, Chairman of the Geneva Private Bankers Association
Financial markets and the economy: what does 2010 hold in store?
Nicolas Pictet, Partner, Pictet & Cie, Vice-chairman of the SPBA
Stratégie d'investissement
Complementary documentation (only in French)
PUBLICATIONS
2009 Annual Report
Please note that the 2009 Annual Report is available in French or in German only.
La tempête qui s'est abattue, dès l'été 2007, sur les places financières internationales a continué d'influencer l'environnement des banquiers privés suisses au cour de ses douze derniers mois. On peut d'ores et déjà prévoir qu'il en ira encore ainsi à l'avenir car cette crise et les coûts considérables qu'elle a occasionnés marqueront longtemps les esprits d'un monde occidental en mal de croissance et confronté de surcroît à de graves problèmes structurels.
Lorsque la poussière sera retombée...
Lutte contre la criminalité et règles d’identification de la clientèle
Activités communes des banques suisses
Download full version of 2009 Annual Report
NEWS
August 22, 2009
Sécurité du droit et compétitivité de la place financière : il y a urgence!
Michel Y. Dérobert, SPBA - only in French (discours prononcé lors du Congrès du PDC Suisse)
April 8, 2009
Le G20 ou quand les gros se ménagent et s'en prennent aux plus petits
(only in French)
Ce que l’on pouvait prévoir est arrivé : le G20 a soigné ses effets d’annonce et s’est concentré sur des décisions pas trop difficiles à prendre, notamment celles concernant des acteurs absents du sommet de Londres. Vu de Suisse, ceci appelle quelques commentaires.
March 17, 2009
What does the Federal Council's new policy on administrative assistance in tax matters mean?
On March 13th 2009, the Swiss government announced its willingness to withdraw its reservations regarding art. 26 of the OECD's Model Tax Convention. Even if this decision does not call into question the Swiss banking secrecy's existence, many commentators are of the opinion that this marks the beginning of a new era. The Swiss Private Bankers Association approves this decision taken in principle but points out that its application will need to be closely monitored and that Switzerland will need to quickly adopt measures aimed at restoring the competitiveness of its financial centre.
Press Releases
Ordinary Annual General Meeting
June 19, 2009
Speech by Dr. Konrad Hummler, Wegelin & Co., Chairman of the SPBA
Document in German only
Document in French or in German only
Annual Press Point
January 15, 2009
Documents in French or in German (depending on original language)
Die Privatbankiers zur Finanzkrise
Dr. Konrad Hummler, Partner, Wegelin & Co., Chairman of the SPBA
Document in German
Fiscalité de l'épargne, QI et secret bancaire : où en est la place financière suisse?
Grégoire Bordier, Partner, Bordier & Cie, Chairman of the Geneva Private Bankers Association
Document in French
Marchés financiers et conjoncture : que nous réserve l'année 2009?
Nicolas Pictet, Partner, Pictet & Cie, Vice-chairman of the SPBA
Document in French
Documentation complémentaire
Perspectives pour 2009 : économies dirigées par les politiques économiques
PUBLICATIONs
2008 Annual Report
Please note that the 2008 Annual Report is available in French and in German onlyCes deux dernières années ont été marquées, à l’échelle de la planète, par une crise financière et économique d’une ampleur quasiment sans précédent. Comparé à d’autres places financières importantes, le système bancaire helvétique a été relativement épargné par les aspects les plus dramatiques de ces développements. Il n’en a pas moins subi les contrecoups de la crise.
Une crise sans précédent, mais aussi une opportunité de mieux faire
Lutte contre la criminalité et règles d’identification de la clientèle
Activités communes des banques suisses
Download full version of 2008 Annual Report
NEWS
September
Place financière, Europe et secret bancaire
Michel Y. Dérobert, ABPS - Article published in "L'Agefi" on September 18, 2008
Document in French
Avec la conclusion des bilatérales bis, on pouvait croire que la Suisse avait réglé son différend avec l'UE sur le secret bancaire. Depuis quelques mois, on s'aperçoit que cette vision était optimiste.
La Suisse et la fiscalité de l'épargne : Acte II
Michel Y. Dérobert, ABPS - Article published in "Employeur suisse" Nr.18 on September 11, 2008
Document in French
Depuis la conclusion des négociations bilatérales bis, on pouvait croire que la Suisse avait durablement réglé le différend qui l’avait opposée à l’Union européenne (UE) à propos de son secret bancaire. Depuis quelques mois, on se rend compte que cette vision était sans doute un peu optimiste. Force est de constater que si le premier acte de cette pièce à rebondissements s’était plutôt bien terminé, le deuxième reste encore à écrire.
June
When traditional values become fashionable: the Swiss private bankers
Michel Y. Dérobert, SPBA - article published in the Swiss Derivatives Review
Swiss private banking enjoys a unique position. It owes this privilege to a very long tradition. One group of Swiss banks can boast to have been there from the start; they are the private bankers, whose very name is behind the notion of private banking.
March 13, 2008
The German Liechtenstein affair: What are the consequences for Switzerland?
The scandal of the DVD stolen from a branch of a Liechtenstein bank then sold to the German secret service for a small fortune was but the prelude to an orchestrated attack by a group of German political figures among them the Finance Minister Peer Steinbrück and his predecessor Hans Eichel on Switzerland and her financial centre.
PRESS RELEASES
Ordinary Annual General Meeting
June 6, 2008
Speech by Pierre Darier, Chairman of the SPBA
Document in French only
Document in French or in German only
Annual Press Point
January 17, 2008
Die Privatbankiers und der "Masterplan" für den Finanzplatz Schweiz: Von der Theorie zur Praxis
Jacques Rossier, Partner of the Private Holding Company, Lombard Odier Darier Hentsch & Cie
Document in German
Der Finanzplatz braucht Talente! Überlegungen zur Personenfreizügigkeit,
Dr. Konrad Hummler, Partner, Wegelin & Co., Vice-chairman of the SPBA
Document in German
Marchés financiers et conjoncture : que nous réserve l'année 2008?
Nicolas Pictet, Partner, Pictet & Cie
Document in French
Complementary documentation
"Economie suisse, crise du subprime et banquiers privés"
Publications
2007 Annual Report
Please note that the 2007 Annual Report is available in French and in German only.
L'année 2007 a été en bonne partie placée sous le signe de la crise des "subprime". L'évidence s'est bientôt imposée que ce marasme financier finirait par affecter l'économie réelle. A quel point et pour combien de temps? Il est trop tôt pour le dire.
Une année mouvementée, et surtout contrastée
Lutte contre la criminalité et règles d’identification de la clientèle
Activités communes des banques suisses
Download full version of 2007 Annual Report
News
September 27, 2007
The financial centre or the goose that lays the golden eggs
It can be interesting to connect news items which are seemingly unrelated. Here are a few examples taken from the international, national and local press in recent days:
The London-based magazine, The Economist, published a long survey on international financial centres. On the day this survey was published, those responsible for Switzerland's financial centre were presenting (under the name of Master Plan) their strategy for closing Switzerland's gap with its competitors, which had increased in recent years. In order to achieve this, framework conditions will need to be improved in a number of areas such as regulation, supervision and especially taxation. Uncompetitive taxation damages Switzerland's interests and promotes the foreign financial centres. This is otherwise known as killing the goose that lays the golden eggs.
September 4, 2007
One may remember that in October 2005, the Financial Action Task Force (FATF) carried out a review of the measures in force in Switzerland regarding the fight against money laundering, in respect of its 40 revised Recommendations. The findings published in a report on this review concluded that there were a number of gaps in our preventive measures.
Following this examination, the Swiss Federal Banking Commission (SFBC) appointed a group of experts, representing the banking community and the federal government, to determine whether there would be any need to modify its Money Laundering Ordinance (SFCB-MLO). These specialists put forward several propositions which were included in a draft revision of the Money Laundering Ordinance. This in turn was subjected to a consultation procedure which began in July 2007.
March
De la mission d'une entreprise publique
Document in French
Une fois n’est pas coutume, les banquiers privés suisses se sont penchés sur un avant-projet de loi, récemment mis en consultation par le Département fédéral de l’intérieur, qui n’a de prime abord rien à voir avec la place financière. Il s’agit de la future organisation de la CNA (qui devrait prendre à l’avenir la marque unique de « Suva »). Les milieux intéressés ont été invités à prendre position jusqu’au 15 mars 2007.
PRESS RELEASES
Ordinary Annual General Meeting
June 8, 2007
Speech by Pierre Darier, Chairman of the SPBA
Document in French only
Document in French or in German only
Annual Press Point
January 18, 2007
Mise en oeuvre des recommandations révisées du GAFI : une pause de réflexion pour pas grand chose?
Pierre Darier, Partner, Lombard Odier Darier Hentsch & Cie, Chairman of the SPBA
Document in French.
MiFID: Gift für den Finanzplatz
Dr. Konrad Hummler, Partner, Wegelin & Co., Vice-chairman of the SPBA
Document in German
Yves Mirabaud, Partner, Mirabaud & Cie
Document in French.
Dann, wenn alles gut geht, sollte man die Zukunft vorbereiten
Jacques Rossier, Partner of the Private Holding Company, Lombard Odier Darier Hentsch & Cie
Document in German
Publications
2006 Annual Report
Please note that the 2006 Annual Report is available in French and in German only.
Le message de notre précédent rapport annuel était le suivant : l’année 2005 avait été bonne et les perspectives pour 2006 demeuraient positives. Douze mois plus tard, on constate que cet optimisme n’était pas de façade. L’année 2006 s’est révélée excellente et plusieurs analyses flatteuses sur la Suisse et sa place financière ont été publiées.
Place financière suisse : c’est lorsque tout va bien qu’il faut préparer l’avenir
Lutte contre la criminalité et règles d’identification de la clientèle
Activités communes des banques suisses
Download full version of 2006 Annual Report
News
September
The Swissfist and politics: there's no need to panic!
As autumn begins and the Swiss parliament goes into session exceptionally in the resort of Flims in the Grisons, one wonders how its members will react to the affair that dominated the headlines of the Swiss media throughout the end of summer. We are, of course, talking about the "Swissfirst Affair" involving the bank of the same name as well as its consequences affecting a number of pension plans that sold their shares in this company at a bad moment (when it was, in actual fact, poised to merge with another bank).
Conditions cadre : la Suisse a encore du pain sur la planche
Document in French
Michel Y. Dérobert, SPBA - Article published in "L'Agefi" (Special edition "Journée des Banquiers")
La place financière helvétique a surtout eu, ces dernières années, des préoccupations externes, notamment en relation avec l'Union européenne. Elle doit maintenant se focaliser sur les dossiers internes.
May
Federal law on collective capital investments : the home straight
On March 8, 2006, the Federal Parliament's lower chamber passed the draft Federal Act on Collective Capital Investments (CCIA). Basically, its aim is to reinforce the competitiveness of the Swiss financial centre, particularly in relation to Luxembourg, which is a length ahead in the field. With this in mind, the bill allows, in particular, for the creation of new investment schemes like Open-ended Investment Companies (SICAVs) and Limited Partnership for Collective Capital Investments (LPCCI).
April
Document in French
Début 2006, le Conseil fédéral a approuvé le projet de Message relatif à la surveillance des marchés financiers. Le but de ce nouveau texte est de créer, à l'horizon 2008, une Autorité de surveillance rassemblant sous le même toit les trois instances suivantes : La Commission fédérale des banques, l'Office fédéral des assurances privées et l'Autorité de contrôle en matière de lutte contre le blanchiment d'argent.
Press Releases
Ordinary Annual General Meeting
June 16, 2006
Document in French only
Speech by Pierre Darier, Chairman of the SPBA
Document in French only
Document in French or in German only
Annual Press Point
January 12, 2006
New guidlines for financial market regulation: from theory to practice
Pierre Darier, Lombard Odier Darier Hentsch & Cie
Wohin gehören die Privatbankiers in der schweizerischen Bankenlandschaft?
Dr. Christian Rahn, Rahn & Bodmer, Banquiers
Document in German
Aussichten für die Wirtschaft une die Finanzmärkte im Jahre 2006
Nicolas Pictet, Pictet & Cie
Document in German
Complementary documentation
Konjunkturpanorama" - "Aktienmarkt Schweiz: solid abgestützte Performance"
Documents in German
Publications
2005 Annual Report
Please note that the 2005 Annual Report is available in French or in German only.
L'année sous revue a été bonne pour les banquiers privés suisses, faisant mentir tous ceux qui annonçaient des temps très difficiles pour les banques spécialisées dans le "private banking" en Suisse.
Place financière suisse : des progrès indéniables mais pas définitifs
Lutte contre la criminalité et règles d'identification de la clientèle
Activités communes des banques suisses
Download full version of 2005 Annual Report
News
November
Regulation of the financial centre
Michel Y. Dérobert, SPBA
For some years, the banking sector has been complaining about over-regulation which threatens to cripple the financial world. In Switzerland, the private bankers were one of the first groups to speak out publicly and were quickly joined by others, namely the investment banks, cantonal banks foreign banks and even the Swiss Bankers Association (SBA). A study carried out by the University of Zurich in 2004 has, for the first time, quantified the costs of this problem and revealed their spectacular growth in five years.
So, it is in a rather alarmist context that one piece of good news should be announced: the Swiss authorities have come to realize that the problem is a very real one, not a collective hallucination experienced by the financial centre and its lobbyists, trying to draw attention to themselves. Just recently, the Federal Finance Administration, the Swiss Federal Banking Commission and the Swiss Federal Office of Private Insurance produced a joint publication which has gone unnoticed by most of the media. It is entitled "Guidelines for Financial Market Regulation" with the clear subtitle of "The requirement for a reasonable cost-conscious and effective regulation of the financial market".
October
From regulation to over-regulation and back
How to break the vicious circle
Michel Y. Dérobert, SPBA
As I collected papers on the subject of regulation in order to prepare this article, I was struck by the number of regulatory projects that have become reality over the past twelve months in Switzerland. Mentioning this fact to a well-known lawyer, he answered : "That's life! Nothing can be done about it. Although they keep moaning, banks get used to it, don't they?".
Do banks really get used to endless new regulations? Clearly this is not only a burden for small banks but also for big ones. Perhaps regulation is a bit like a chronic illness : one lives with it, but it ruins one's quality life! Taking Swiss private banking as an example, this paper will explore how to break free from the vicious circle of ever-growing regulation.
September
In the fight against money laundering the Swiss legislator must keep his prerogatives!
Edouard Cuendet, SPBA - Article published in "Employeur Suisse"
In January 2005 the Federal Department of Finance (FDF) opened a consultation procedure on draft bill on the implementation of the FATF's revised recommendations. In substance, insider trading and share price manipulation are supposed to be included in the list of predicate offences for money laundering. Furthermore, according to this text, several professions and non-financial activities should be subject to the anti-money laundering rules (real estate agents, precious metal and precious stone traders, lawyers, notaries, trust companies and tax advisers and intermediary service providers who set up and administer companies).
The Swiss private bankers are the first to recognize the overwhelming importance of the fight against money laundering and terrorist financing. They note that the measures Switzerland has taken are already among the toughest in the world. After studying the FDF's proposals, they arrived at the conclusion that these needed to be seriously re-worked.
The Swiss banks and the European Union
Négociations bilatérales: le pragmatisme a fait ses preuves
Michel Y. Dérobert, SBPA
(document in French only - this article was published in "L'Agefi" on September 20, 2005)
Tandis que l'Union européenne traverse une phase de doute, la prudence helvétique démontre ses vertus. A condition de ne pas céder le pas à la peur.
April
Implementation of the revised FATF recommendations on money laundering
Does Switzerland have to be the first to legislate?
The Financial Action Task Force on Money Laundering (FATF) is an intergovernmental organization that brings together more than 30 countries, including Switzerland. Its objective is to devise and implement strategies in the bid to counter money laundering and terrorist financing. To this end it has produced a series of non-restrictive recommendations that governments are, nevertheless, expected to include in their national legislation. FATF's 40 Recommendations on Money Laundering established in the 1990s were revised and extended in 2003.
Taking this development into consideration, the Federal Department of Finance published a draft bill at the beginning of this year proposing the revision of a whole series of federal laws.
Press Releases
Ordinary Annual General Meeting
June 10,2005
Document in German only
Chairman of the SPBA
Document in German only
Chairman of economiesuisse. Document in German only
Document in French or in German only
Annual Press Point
January 13, 2005
Documents in German
Überregulierung: Reale Gefahr oder blosse Einbildung?
Niklaus C. Baumann, Baumann & Cie
Wie soll die Wettbewerbsfähigkeit des Finanzplatzes Schweiz gesichert werden?
Dr. Christian Rahn, Rahn & Bodmer, Banquiers
Die Bilateralen II aus der Sicht der Privatbankiers
Pierre Darier, Lombard Odier Darier Hentsch & Cie
Dauerhaft niedrige Zinsen? Folgen für die Vermögensverwaltung
Nicolas Pictet, Pictet & Cie
Publications
2004 Annual Report
Please note that the 2004 Annual Report is available in French or in German.
En s’attaquant il y a plusieurs années à la surréglementation qui envahissait la place financière, les banquiers privés avaient vu juste. Ce thème est devenu un véritable leitmotiv des milieux bancaires, non seulement en Suisse, mais aussi à l’échelle internationale.
Le fait que d’autres se plaignent du même mal que nous n’est pas une consolation, ni rassurant. Cela pourrait même donner des arguments aux tenants d’une réglementation toujours plus perfectionniste : n’est-il pas futile de chercher à s’opposer à un phénomène aussi généralisé ?
Non, car si les thérapies contre l’indigestion normative se font encore attendre, au moins peut-on affirmer que le diagnostic est établi.
Hyperactivité normative: la Suisse entre Charybde et Scylla?
Lutte contre la criminalité et règles d'identification de la clientèle
Relations avec l'Union Européenne
Activités communes des banques suisses
Download full version of 2004 Annual Report
News
December
The financial centre's legal environment and international competition
Will the fabled tortoise ever catch up with the hare?
On 7th October 2004, the MP Filippo Leutenegger questioned the Federal Council on the issue of "Increasing the competitiveness of Switzerland's financial centre". Among the questions put to the government was the following: "Is the Federal Council for the rapid introduction of a package of measure aimed at promoting Switzerland as a financial centre?"
October
Partnerships deserve more consideration
Michel Y. Dérobert, SPBA. This article was published in "La Vie économique".
Document in French
September 20, 2004
Taxation of savings: a challenge for the financial centre
Michel Y. Dérobert, SPBA). This article was published in "L'AGEFI".
Document in French
September 16, 2004
A challenge for the Swiss financial centre
Michel Y. Dérobert, SPBA. This article was published in "Employeur Suisse".
Document in French
March
Regulation and the financial centre
Cost-benefit approach: words are not enough
Press Releases
Ordinary Annual General Meeting
June 11, 2004
Speech by Niklaus C. Baumann, Chairman
Document in French or in German only
Document in French or in German only
Annual Press Point
January 15, 2004
Documents in German
Der Privatbankier in einem sich wandelnden Umfeld
Niklaus C. Baumann, Baumann & Cie
Finanzplatz Schweiz: zweckmässig reglementiert oder überreglementiert?
Dr. Konrad Hummler, Wegelin & Co. Privatbankiers
Die Schweiz und die Europäische Union: das Abkommen über die Zinsbesteuerung auf der Prüfbank
Dr. Christian Rahn, Rahn & Bodmer
Beurteilung der wirtschaftlichen Lage
Ivan Pictet, Pictet & Cie
Publications
2003 Annual Report
Please note that the 2003 Annual Report is available in French or in German.
Après un début difficile, l'année 2003 a vu la situation des banques spécialisées dans la gestion de fortune se redresser à partir du deuxième trimestre. Ainsi, au terme d'une période marquée par une baisse prolongée des marchés et par la nécessité de réduire ses coûts, ce secteur d'activité - dont les banquiers privés sont des acteurs emblématiques peut envisager l'avenir avec une confiance retrouvée.
La confiance: pierre angulaire de la place financière
Lutte contre la criminalité et règles d'identification de la clientèle
Relations avec l'Union européenne
Activités communes des banques suisses
Download full version of 2003 Annual Report
News
September
Regulation and financial centre - reaching saturation point
April
Ethics and money : what is required of the banking profession
Jacques Rossier, Managing Partner, Lombard Odier Darier Hentsch & Cie
In our moralizing world, the word ethics is used and abused. Ethics, according to one of the many definitions that can be found in the dictionary, is “the discipline dealing with what is good and bad and with moral duty and obligation”. But good and bad are notions that evolve over time: what is ethical cannot therefore be defined in absolute terms.
March
Alarm sounds over Orwell's vision
Graham Mather, President of the European Policy Forum
Earlier this month Richard Thomas, Britain’s new information commissioner, warned the government that its proposed “entitlement card” could tilt the balance of information power away from the citizen and too far towards the state. At a time of great concern about terrorism his intervention was courageous. It highlighted that privacy rights and data protection laws around the world now face their biggest challenge since they were first introduced 20 years ago.
March 26, 2003
Le secret bancaire - quelle est la place de la sphère privée dans le monde où nous vivons?
Michel Y. Dérobert, SPBA - Document in French
February
Taxation of savings in Europe: a problem of implementation
On January 21, 2003, the European council of economic and finance ministers reached a compromise over the thorny question of the "tax package" which had divided its members for a long time. With regard to the taxation of savings, the European ministers decided of a system based on automatic exchange of information or a withholding tax. It was a return to the so-called "co-existence" model.
Press Releases
Ordinary Annual General Meeting
June 13, 2003
Document in German
Speech by Niklaus C. Baumann, Chairman
Document in German only
Document in French or in German only
Annual Press Point
January 16, 2003
Documents in German
Eine kurze internationale Politanalyse
Pierre Mirabaud, Mirabaud & Cie
Die Schweiz und die EU: internationale Entwicklungen im Steuerbereich
Michel Y. Dérobert, VSP
Das Verhältnis USA/Finanzplatz Schweiz
Dr. Konrad Hummler, Wegelin & Co. Privatbankiers
Beurteilung der wirtschaftlichen Lage
Ivan Pictet, Pictet & Cie
Publications
2002 Annual Report
Please note that the 2002 report is available in French and German only.
Please note that the 2002 report is available in French and German only.
La période couverte par le présent rapport d'activités s'étend du 1er avril 2002 au 31 mars 2003. Elle ne restera pas dans les annales comme une année faste. Depuis les sommets qu'ils avaient atteints voici un peu plus de trois ans, les marchés boursiers ont perdu peu à peu près de la moitié de leur valeur. Cette évolution a laissé des traces en Suisse comme dans toutes les places financières internationales.
Place financière et foisonnement normatif
Droit et réglementations de la place financière
Lutte contre la criminalité financière et règles d'identification de la clientèle
Relations avec l'Union européenne
Activités communes des banques suisses
Download full version of 2002 Annual
News
December
Taxation of savings: what will happen in the home straight?
Michel Y. Dérobert, SPBA
Who would have thought that the taxation of savings would have captured the public's interest to such an extent? Day after day this topic has hit the headlines and given rise to heated debates. The reason is that it lies at the heart of negotiations between the EU and Switzerland on the question of banking privacy.
November
Banking secrecy: a federal or cantonal matter?
Are the Swiss cantons reduced to the role of passive observers in the debate that is currently raging over banking secrecy?
The tempting of Switzerland: financial confidentiality and capital formation
Solveig Singleton, Senior Analyst, Project on Technology & Innovation, Competitive Enterprise Institute, Washington D.C.
Switzerland is faced with a choice between the tradition of bank secrecy and cooperation with EU tax authorities' demands for transparency. There is a strong link between financial privacy and capital formation in Swizterland and the world economy as a whole.
Further information available at : www.starkeschweiz.ch
Pierre Mirabaud, Managing Partner, Mirabaud & Cie, Private Bankers and President of the Geneva Private Bankers.
"More and more", seemed to be the motto of these managers who led their companies to ruin and are, today, summoned before the law to answer for their acts.
October 14, 2002
Dans les coulisses des négociations entre la Suisse et l'Union Européenne
Michel Y. Dérobert, SPBA - Document in French
The fight against money laundering: let's be serious but not rash
The Federal Banking Commission has just submitted for consultation a draft ordinance on money laundering which will appreciably increase the responsibilities of banks and other financial intermediaries regarding the identification and monitoring of their clients.
September 19, 2002
Le secret bancaire ou la victime d'un mauvais procès
Michel Y. Dérobert, SPBA - Document in French
August
The private bankers in a changing world
Recent rapprochements in the Swiss financial centre have raised a number of questions regarding the viability of banks incorporated as partnerships.
July
Switzerland - European Union: tension over taxation on savings
In the bilateral relationships between Switzerland and the EU, it is time for intimidation manoeuvres. Having forced three small countries to subscribe to their views regarding the automatic exchange of tax information, the big EU member states are now attacking Switzerland.
May 29, 2002
Switzerland as a Financial Centre: the Challenges ahead
Michel Y. Dérobert, SPBA
Press Releases
Ordinary Annual General Meeting
June 14, 2002
Document in German
Rede zur GV von der Vereinigung der Privatbanquiers in Schaffhausen am 14. Juni 2002
Niklaus C. Baumann, Baumann & Cie
Document in German
Finanzplatzethik - Unabdingbar in einer Zeit des Wertewandels
Jacques Rossier, Darier Hentsch & Cie
Document in German
Document in French
Annual Press Point. Documents in German
January 17, 2002
Die Bedeutung des schweizerischen Finanzplatzes und der Schweiz für die Privatbanken
Niklaus C. Baumann, Baumann & Cie
Aussenpolitische Fragen, insbesondere die Folgen der zweiten bilateralen Verhandlungen
Jean A. Bonna, Lombard Odier & Cie
Das Verhältnis USA/Finanzplatz Schweiz nach dem 11. September
Jacques Rossier, Darier Hentsch & Cie
Vermögensverwaltungstätigkeit in der Schweiz. Rückblick auf 2001 und Aussichten für 2002
Ivan Pictet, Pictet & Cie
May 23, 2012
Politicking around the tax treatiesSwitzerland could declare in the words of Voltaire, "Lord, protect me from my friends; I can take care of my enemies." Indeed, it is possible that the tax agreements thrashed out with Germany and the United Kingdom may not survive the cross fire of the extremes in its own parliamentary debate. And if they do get through, the German agreement could still be attacked by the AUNS (Aktion für eine unabhängige und neutrale Schweiz) in the form of a referendum.
Therefore, Switzerland could ultimately see the surge of a nationalist and anti-German campaign which would increase tension in the already strained relations with its principal economic partner. Everyone would lose out. In sectors like tourism this is the last thing they need. So, let us look at the Swiss politics surrounding these treaties.
January 12, 2012
Annual Press Point
Documents in French or in German (depending on original language)
The private bankers: a unique alternative in the banking landscape
Nicolas Pictet, Partner, Pictet & Cie, Chairman of the SPBA
The financial centre's competitiveness: how can domestic conditions be improved?
Christoph B. Gloor, Partner, La Roche & Co Banquiers, Vice-Chairman of the SPBA
Financial markets and the economy: What does 2012 hold in store?
Grégoire Bordier, Partner, Bordier & Cie