Financial giants Credit Suisse Group and UBS have launched the Swiss Finance Council to represent interests of global Swiss financial institutions at European and international level.
The new entity, which will have a representative office in Brussels, will support the work of the Swiss Bankers Association (SBA) in EU-related matters. In addition, it will review the existing policy-making framework and develop joint positions on key dossiers on behalf of its members.
The board of the new entity will be comprised of senior policy adviser Alexis Lautenberg, and Urs Rohner and Axel Weber, chairmen of Credit Suisse Group and UBS.
The Swiss Finance Council chairman Lautenberg said that internationally active Swiss financial institutions want to become more actively engaged in European policy matters and this initiative provides the opportunity for them to do so.
"The timing of the launch is focused on current developments in Brussels and the desire of the members of the Swiss Finance Council to participate actively in EU-level discussions around the priorities for the upcoming legislative period 2014-2019," Lautenberg added.