Geneva’s Private Bankers will be replaced by the Association of Swiss Private Banks (ASPB) from 1 January 2014, with Christoph B. Gloor serving as the Chairman of the new association, the group announced today.

The new association said it intends to become a national-level organisation representing privately-owned Swiss banks.

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ASPB also said it will continue to play an active role in promoting the business interests of its members, all of whom specialise in wealth and asset management. It will be assisted by its Permanent Secretariat, also based in Geneva.

The founding members of the ASPB are Bordier & Cie, E. Gutzwiller & Cie, Gonet & Cie, La Roche 1787 Private Bankers, Lombard Odier & Cie, Mirabaud & Cie, Mourgue d’Algue & Cie, Pictet & Cie, Rahn & Bodmer Co. and Reichmuth Co.

Following announcements by La Roche 1787 Private Bankers, Lombard Odier & Cie, Mirabaud & Cie and Pictet & Cie of plans to change their legal structure to that of a limited company, the Committee of the Swiss Private Bankers Association and the "Groupement des Banquiers Privés Genevois" (Geneva’s Private Bankers) started examining possible changes to both organisations as a way to continue promoting close cooperation between member banks.

From the 1 Januar 2014, only 7 members will remain within the Swiss Private Bankers Association as the organisation will be scaled down and its objectives limited to defending the specific interests of private bankers. The position of Chairman and Vice-chairman will be held respectively by Grégoire Bordier (Bordier & Cie) and Christian Bidermann (Rahn & Bodmer Co.).

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Jan Langlo, a qualified lawyer and member of the Geneva bar, as well as a certified tax expert, will be deputy of the Committee. He will focus on national-level legal issues affecting banks and the Swiss financial centre more broadly, and participate in various commissions and working groups of the Swiss Bankers Association.