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Oliver Buschan has been appointed as the new Director of the Association of Swiss Cantonal Banks (ASCB), effective July 2025, succeeding Hanspeter Hess, who will retire. Currently a member of the Executive Board of the Swiss Bankers Association, Buschan has significantly influenced Switzerland's banking regulatory framework. Hess, who joined the ASCB in 1995 and became Director in 2006, has been instrumental in enhancing the association's political influence within the Swiss banking sector.
The Swiss Cantonal Banks Association is set for a leadership transition as Oliver Buschan will succeed Hanspeter Hess as director on July 1, 2025. Buschan, with a robust background in banking and financial regulation, previously held key roles at Finma, UBS, and the Swiss Bankers Association. Hess, who has been with the association since 1995 and director since 2006, is recognized for his impactful contributions to the Swiss banking sector.
UBS Asset Management has launched its first tokenized investment fund, the UBS USD Money Market Investment Fund Token (uMINT), on the Ethereum blockchain, targeting institutional investors seeking secure cash management. This initiative aligns with UBS's broader strategy to integrate blockchain technology into its services, enhancing operational efficiency and transparency. The firm has also been active in developing tokenized financial solutions, including participation in the Monetary Authority of Singapore’s Project Guardian.
UBS faces pressure for increased equity capital, with Finance Minister demanding up to 25 billion, raising concerns over bank salaries and competitiveness. NZZ editor Eric Gujer argues that excessive regulation could weaken the Swiss banking sector, advocating for market forces over bureaucratic measures, while acknowledging the inherent risks of capitalism.
The Federal Council's proposal to abolish tax privileges for private pension fund payouts has sparked significant backlash from the financial sector, which argues it undermines the three-pillar system and discourages voluntary retirement savings. Critics warn that the changes could disproportionately affect middle-class earners and exacerbate retirement insecurity, with potential revenue gains of CHF 250 million questioned. The Swiss Bankers Association plans to engage in the ongoing political discussions as the budget relief measures are further developed.
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Oliver Buschan appointed new director of Association of Swiss Cantonal Banks
18:15 08.11.2024
new leadership appointed at swiss cantonal banks association as director retires
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