Rules that shape the future   

Mr Fäh, it would hardly be a surprise these days if a coffee machine were to prompt us to accept its privacy policy. Has the world really become more fraught with risks, or are the disclaimers simply longer? 

Impressions can be deceptive. The world hasn’t become riskier, it’s become more complex, especially when it comes to legal matters. Switzerland has some of the world’s most stringent data protection legislation, which was necessary to ensure equivalence with the EU. That’s vital to our economy, but it also shows how important protecting privacy and informational self-determination is nowadays

You have been Head of Legal & Compliance at Swiss Banking since July 2025. How did you settle into the job, and what surprised you most during the first few weeks? 

I started right when we were drafting our response to the Federal Council’s banking stability parameters, so I had to hit the ground running at an exciting time. An especially positive surprise for me was the incredibly constructive collaboration within Swiss Banking. I was also impressed by how dedicated the members of our working groups and committees are to a strong and stable financial centre.

You previously spent about 15 years working in the corporate sector. What motivated you to make the leap to an industry association? 

I’d already taken part in various Swiss Banking working groups during that time. Sharing views with other members and being able to play a part in key decisions that affect the financial centre were highly rewarding experiences for me. I found the collective opinion-forming process especially interesting, reconciling different perspectives to arrive at a viable, practically oriented solution. With impending revisions of the “too big to fail” regulations and the anti-money laundering apparatus, now is a particularly exciting time to be coming on board at Swiss Banking and making an important contribution to the financial centre.

Which topics are currently at the top of the agenda for you and your team? 

We have three main priorities at the moment. The first is the revision of the “too big to fail” regulations, which is all about strengthening the financial centre’s stability without endangering its international competitiveness. The second is the revision of the anti-money laundering apparatus to guarantee the financial sector’s integrity going forward. Our third priority is legal issues relating to the digital transformation – the use of artificial intelligence or digital currencies, for instance. The aim here is to strike a balance between innovation and security. 

Where do you see the biggest challenge here? 

One of the biggest challenges lies in maintaining the right mix of stability and competitiveness for the financial centre. At the moment, for example, we’re seeing many countries relaxing their banking legislation to promote competitiveness, whereas the trend in Switzerland is towards stricter requirements. With this in mind, we’re focused on defending our members’ interests in every legislative project so that regulations can remain future-proof, practicable and proportionate and make our financial centre not only more stable, but also more competitive. 

What role do you and your team play in this respect?   

We analyse new legislative projects at an early stage and assess what impact they’ll have on the banks. In our working groups and committees, we work with our members to produce sound, broadly supported responses for timely submission to consultations. We also communicate publicly to raise awareness of our concerns and seek dialogue with the federal government and parliament as well as FINMA with a view to developing solutions quickly and constructively.

How is the digital transformation changing our understanding of compliance and responsibility? 

In the end, compliance is always a question of human responsibility. Artificial intelligence can make anti-money laundering processes more efficient, but it will never replace an employee’s critical judgement. At the same time, cyber risks are on the increase, especially since criminals are using AI too. This makes close collaboration between banks, IT providers and authorities all the more important.

Where would you like to make your mark? 

As a legal expert, I think it’s important for my work to focus on providing a service and creating solutions. My aim is to add real value for our members, be it through legal support or improved visibility outside the industry. We want to inform them even more directly about regulatory developments in future, for instance via webinars or specialist forums. This encourages dialogue and ensures that experience gained in practice flows into our positions and responses.

Compliance is often seen as something banks just have to do. Where do you see room for manoeuvre or even opportunities for the financial centre? 

Compliance is much more than an exercise in ticking boxes. It can genuinely add value. A strong compliance culture is a mark of quality and can be turned into a competitive advantage. Banks enjoy a great deal of freedom as regards how they handle compliance. When implemented sensibly and efficiently, rules become part of the daily routine without restricting employees’ scope to use their own discretion.

When you think about the future of the financial centre, where would you like to see it in ten years’ time? 

I’m convinced that the Swiss financial centre will still be central to the national economy ten years from now. It will continue to benefit from political stability, a strong currency and an outstanding pool of qualified specialists. What will be decisive will be intelligent, measured regulation that preserves this solid foundation and allows the financial centre to remain innovative, stable and internationally competitive for years to come.

What about you – where can you be found when you are not poring over the latest draft laws? 

On my bike in the summer or cross-country skiing in Engadin, where I grew up. Sometimes underwater – I’m passionate about diving, which I like to combine with my love of travel.