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.

The ASPB has taken position on the parliamentary initiative "Phasing out stamp duties and creating jobs". For the ASPB, the abolition of the negotiation stamp duty has been a priority for many years. This archaic tax, which is unique in the world, has driven many financial activities abroad, which would otherwise develop in Switzerland. The ASPB is therefore advocating a single draft law, which provides for the complete abolition of the negotiation stamp duty.

As a result of the containment measures, the Private Banking Day, scheduled for May 14, 2020 in Zurich, has been cancelled. The next one will take place on June 10, 2021 in Geneva.

The Association of Swiss Private Banks (ASPB) comprises 9 member banks which manage more than 900 billion Swiss francs and employ around 8600 people, two third of which are based in Switzerland. Through its permanent Secretariat based in Geneva, the ASPB’s primary mission is to defend and represent the business interests of Swiss private banks. It strives to establish and maintain optimum conditions that support the development of the private and institutional asset management sector in Switzerland.

Association of Swiss Private Banks
Boulevard Georges-Favon 29
CH-1211 Genève 11
 Tél. +41 22 807 08 00