Roman Studer, the incoming chief of the Swiss Bankers Association (SBA), has warned against excessive post-Credit Suisse regulatory tightening, cautioning that overly stringent capital rules could impair the international competitiveness of Switzerland’s financial sector.
Switzerland risks damaging its position as a global financial center by subjecting its banks to overly strict regulation, according to incoming Swiss Bankers Association head Giorgio Pradelli in an interview with the Financial Times.
Pradelli, who also serves as CEO of Zurich-based private bank EFG International, is set to assume the role of chair at the Swiss Bankers Association next month while retaining his executive position at EFG.
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“We cannot take it for granted that Switzerland will maintain its prominence if we fail to implement the right policies including an optimal regulatory framework,” he told the FT.
In the coming days, a Swiss parliamentary panel will vote on new proposed banking rules for UBS following an earlier committee’s failure to reach a consensus.
