Patrick Odier will not seek a further term as Chairman

At its meeting today, the Board of Directors of the Swiss Bankers Association (SBA) regretfully and understandingly took note that Patrick Odier will assume more responsibility for the development of his own bank and will not seek re-election to the Board of Directors and as Chairman of the SBA in September 2016. The Board of Directors thanks Patrick Odier for his extraordinary commitment during the past challenging years and emphasised that Odier carried out his duties with great and untiring prudence, diplomatic skills and an innovative spirit.

Patrick Odier took office in 2009, a time when the global financial crisis was gradually beginning to subside and Switzerland was coming under increasing international pressure to apply new international standards in tax matters. It was always clear to Patrick Odier that the interests of customers would have to lie at the heart of any solution to this issue. In the end, the fact that the transition to the automatic exchange of information with countries abroad proceeded smoothly is largely the merit of his consensus-oriented approach. The banks also demonstrated their conscientiousness under his aegis when it became necessary to counteract the signs of overheating in the Swiss real estate market by means of an effective tightening of self-regulation. Patrick Odier succeeded in providing the Swiss financial centre with growth momentum by facilitating accessibility to the Chinese currency, the renminbi: following intensive efforts, it was possible to establish Switzerland as a hub for a wide range of business relating to the Chinese currency.

“The time is right for a change in the position of Chairman as many challenges have been mastered and the Swiss financial centre is very well positioned for the future,” says Patrick Odier. “Together with my partners and my teams, I now look forward to advancing the development of our bank and continuing to contribute to a successful financial centre in this way.”

A selection committee of the SBA’s Board of Directors is currently addressing the search for a successor. The committee is headed by Urs Rohner, Vice-president of the SBA’s Board of Directors and President of the Board of Directors of Credit Suisse Group. The other members of the committee are Yves Mirabaud, Senior Managing Partner Mirabaud SCA, and Martin Scholl, CEO Zürcher Kantonalbank. The SBA will announce its recommendation for the successor to the Board at the latest at the Swiss Bankers Day on September 15, 2016.