Over 100 people registered for the Zurich Bankers Association's (ZBV) General Assembly on Thursday evening but the final attendance was slightly lower. Nevertheless, any other association or club would envy such strong attendance at their meetings.

The ZBV’s role as the voice of Zurich's financial sector

The ZBV, led by Managing Director Christian Bretscher, sees itself as the voice of the Zurich financial hub. It has not lost any significance in light of recent developments. This is reflected in the growing membership numbers, which continue to rise.

The last «CS President»

Switzerland's financial sector is in excellent shape and remains the global leader in cross-border wealth management, said President Daniel Hunziker. He admitted he had said the same thing the previous year—and the year before that. «It underscores how vital stability is for the financial sector,» he added. Ultimately, the financial sector is crucial for Switzerland’s economy, and its well-being must be preserved, said Hunziker. In Zurich alone—banks and related industries included—67,000 jobs depend on it.

This was Daniel Hunziker’s last General Assembly as president. After five years leading the association, he stepped down, marking the end of an era. He was the last Credit Suisse representative to hold the presidency, and his leadership was highly praised.

A UBS manager in the lead for presidency

The next president has not yet been selected. The board will make the decision internally, with the election scheduled for a meeting at the end of November. The leading candidate is Patrick O. Müller, Head of the Zurich Region at UBS, who was one of two new members elected to the board on Thursday evening. All eight other board members were re-elected. Prior to his election, Müller expressed his willingness to take over the presidency, provided the board gives its approval.

The second new board member is Sabine Heller, Head of the Zurich branch at Geneva-based private bank Lombard Odier. Heller and Müller replace Katrin Koch and Stephan Stotz, who stepped down after three and five years, respectively.

Credit Suisse’s era is over, and no future president of the ZBV will come from its ranks. Still, a trace of Credit Suisse's legacy lingers on the board. Sabine Heller, the newly elected member, worked for the former Swiss banking giant for 27 years before joining Lombard Odier. And as Patrick O. Müller stated, «Two hearts beat within me: one for UBS and one for CS.»