Swiss Business Favors Republicans
This is shown in data compiled by the Center for Responsive Politics, a Washington-based non-profit research firm which tracks political donations.
Corporations aren't allowed to influence federal election donations in the U.S. by spending money, but have circumvented those campaign finance laws via so-called political action committees, or PACs, which are allowed to collect and pool donations from staff for candidates or causes.
For example, UBS bankers have donated nearly $1 million to a bank-internal PAC in this election cycle. $591,750 went to Republicans, while only $388,500 went to the Democrats.
Even-Handed Swiss
A spokesman for UBS said the measure is only an interim measure: Each party will enjoy an even share of donations in order to maintain good U.S. political relations.
«The UBS political action committee (PAC) gives equally to political candidates on a bipartisan basis as part of our goal to be engaged with the House and Senate on public policy issues,» the bank said.
Swiss banks have traditionally shown a preference for Republicans, which is mirrored in other sectors. Prominent examples corporate PAC donations are Credit Suisse, cement firm Lafarge Holcim, insurers Zurich and Swiss Re, and drugmakers Novartis and Genentech, a subsidiary of Basel-based Roche.
Eyebrow-Raising Donations
The donations to Republican candidates and causes are intriguing because the party's presidential nominee Donald Trump is highly controversial in business circles. He has backed protectionist tariffs and advocates the U.S. leaving the World Trade Organization.
Most recently, he spoke out in favor of reinstating Glass-Steagall, a 1933 law which separates deposit-taking from investment banking activities like trading. The move is tantamount to a full attack on Wall Street, including Swiss banks UBS and Credit Suisse.
UBS' PAC does not donate to any presidential candidates, party conventions of super-PACs.








