Switzerland Urged to Implement Public Register for Bankers

Stefan Bollinger, director of Julius Baer, suggests Switzerland should create a public register for bankers violating professional duties to restore its reputation post-Credit Suisse collapse. He emphasizes implementing this system to align with practices in the US, UK, Hong Kong, and Singapore.

Switzerland is being urged to establish a public register of bankers who have breached their professional responsibilities, a move considered essential in rebuilding trust after the Credit Suisse fallout, according to Stefan Bollinger, the director of the private bank Julius Baer, based in Zurich.

In a statement to the Swiss-German newspaper Neue Zürcher Zeitung, Bollinger advocated for the registration of financial market participants, emphasizing its effectiveness in preventing misconduct. He referenced similar successful systems in the US, UK, Hong Kong, and Singapore.

The call comes as Switzerland seeks to bolster its reputation, with Bollinger underscoring the importance of extending existing due diligence measures and affirming the value of Swiss identity in banking amid persistent global uncertainties.

(With inputs from agencies.)