Patrick Odier won't stand for reelection as chairman of the Swiss Bankers Association at the Bankers Day on September 15, 2016, the industry group said in a statement today.

«The time is right for a change in the position of chairman as many challenges have been mastered and the Swiss financial center is very well positioned for the future,» Odier was cited as saying in the statement.

The association's selection committee headed by Credit Suisse Chairman Urs Rohner is looking for a successor. Yves Mirabaud, senior managing partner at Mirabaud, and Martin Scholl, CEO of Zuercher Kantonalbank, are the other members of the committee.