Georg Schubiger, co-chief executive of Vontobel, was elected on Monday to lead the Association of Swiss Asset and Wealth Management Banks (VAV), replacing EFG International chief executive Giorgio Pradelli in a leadership change that takes effect on 18 September 2026. The handover puts a wealth-management veteran at the head of a 23-bank lobby that oversees more than CHF 1.4 trillion in client assets, in a year already crowded with regulatory deadlines, cross-border rule changes, and the rapid spread of artificial intelligence across private banking.
Schubiger Elected to Lead Swiss Wealth Bank Lobby
The VAV elected Schubiger as president at an extraordinary general meeting on Monday, the association said in a statement reported by the Vontobel co-CEO elected to lead Swiss wealth banks. Stefan Bollinger, chief executive of Bank Julius Bär & Co, was selected as the group’s next vice-president at the same meeting. The change was first reported by finews.com on 22 June 2026.
Two further appointments round out the new board. Alexander Classen, chairman of the board at EFG International, and Marcel Rohner, vice-chairman of the board at Union Bancaire Privée (UBP), were elected to the body. Pradelli, the outgoing VAV president, will step into the chair of the broader Swiss Bankers Association on 17 September 2026. All four appointments take effect within 48 hours of each other in mid-September.
Continuity From Inside the VAV
Schubiger is not new to the room. He has served as VAV vice-president since 2024, and the association framed his elevation as a continuity play at a moment of mounting pressure on Swiss wealth management. Both Schubiger and Bollinger bring extensive international leadership experience in wealth management and private banking, the VAV said in a statement. Their expertise, the VAV added, positions them to represent Swiss wealth management banks vis-à-vis policymakers, regulators, and the public.
Schubiger took the Vontobel co-chief executive job in January 2024, sharing the role with Christel Rendu de Lint after Zeno Staub stepped down. Before that promotion, he ran Vontobel’s wealth-management business; before Vontobel, he held senior roles at Danske Bank Group, including a stint as chief operating officer. The 2024 co-CEO appointment and the 2024 VAV vice-presidency moved Schubiger into the centre of two Swiss financial-centre institutions in the same year.
Bollinger took over as CEO of Julius Baer in January 2025, after running Goldman Sachs’s EMEA private-wealth franchise from London. The VAV’s choice ratifies a succession already in motion inside the lobby itself: Schubiger has been the vice-president since 2024 while the presidency stayed with EFG International’s Pradelli.
Twenty-Three Banks Behind CHF 1.4 Trillion in Client Assets
The VAV brings together 23 Swiss banks that specialise in wealth management for private and institutional clients. The membership roster reaches beyond the headline names: alongside Vontobel and EFG, the association counts Cornèr Banca, Banque Bonhôte, Dreyfus Söhne & Cie Banquiers, the Edmond de Rothschild group, Syz Group, and Maerki Baumann among its members. UBP chief executive Guy de Picciotto and the heads of several smaller private banks fill out the committee, VAV’s 23 member banks and key 2024 figures show.
At industry scale, the VAV reports that its members collectively manage more than CHF 1.4 trillion in client assets and employ over 21,000 people across Switzerland and abroad. The 2024 association figures list total assets of CHF 267.5 billion, reported equity capital of CHF 18.4 billion, annual profit of CHF 2.4 billion, and operating expenses of CHF 7.8 billion. Commission and service-fee income of CHF 6.1 billion outweighed trading income of CHF 2.5 billion, a profile consistent with a fee-driven private-banking franchise. The Swiss-resident headcount of 12,235 sits ahead of the 8,812 employees working abroad.
- 23 Swiss asset and wealth management banks in the VAV
- CHF 1.4 trillion in client assets under member management
- 21,047 employees (12,235 in Switzerland, 8,812 abroad)
- CHF 7.8 billion in 2024 operating expenses
- CHF 2.4 billion in 2024 annual profit
CHF 775 billion of the CHF 1.4 trillion in AUM is booked in Switzerland; CHF 625 billion sits abroad. Most VAV members operate exclusively or predominantly as wealth managers, with balance sheets a fraction of the Big Four Swiss universal banks.
Guy de Picciotto, the UBP chief executive, was singled out by the VAV for 25 years of service on the board, with the association noting his role in guiding the sector through a period of profound change. Schubiger’s own path mirrors that continuity: the VAV vice-presidency he took up in 2024 came the same year he became Vontobel’s co-chief executive. The VAV also credited Pradelli with helping the wealth management industry strengthen its voice during a period marked by growing geopolitical tensions and increasing regulatory scrutiny, according to finews.com.
Pradelli Steps Across to the Swiss Bankers Association
The VAV transition is one half of a wider reshuffle at the top of Swiss banking’s representative bodies. The Swiss Bankers Association (SBA) unanimously elected Pradelli as its next chairman at an extraordinary meeting on 11 May 2026, as detailed in Pradelli’s unanimous election at the Swiss Bankers Association.
The official handover is set for Bankers Day on 17 September 2026, one day before Schubiger’s VAV presidency takes effect. Pradelli will continue in his role as EFG International chief executive, having held the post since 2018, per EFG International’s statement on Pradelli’s new role. Marcel Rohner, the outgoing SBA chairman, steps down after five years in office and is now vice-chairman of UBP’s board. The SBA, the umbrella organisation for Swiss banks, was founded in Basel in 1912 and counts around 265 organisations and roughly 10,000 individuals as members today.
| Person | New role | Coming from |
|---|---|---|
| Georg Schubiger | VAV president | VAV vice-president; co-CEO of Vontobel |
| Stefan Bollinger | VAV vice-president | CEO of Julius Baer (since January 2025) |
| Giorgio Pradelli | Swiss Bankers Association chairman | VAV president; CEO of EFG International (since 2018) |
| Marcel Rohner | VAV board member | SBA chairman (five years); now vice-chairman at UBP |
Pradelli, who is 59, will give up his VAV mandate and other association roles but keep his seat on the Swiss-American Chamber of Commerce in Zurich board. The back-to-back dates (17 and 18 September) leave the two largest Swiss banking-industry groups under freshly installed leadership within 48 hours of each other.
Schubiger’s Opening Bet in Four Pillars
Schubiger laid out four pillars for the VAV’s next chapter in a written statement released after the vote. He named successful market participants, well-trained professionals, an openness to new technologies, and a regulatory framework that creates stability while guaranteeing international competitiveness. Each pillar names a pressure point that has grown louder inside Swiss wealth management over the past two years.
- Successful market participants: banks able to compete across borders at scale
- Well-trained professionals: the private-banking talent pipeline during a generational client handover
- Openness to new technologies: AI, digital channels, and the contact groups already inside the VAV
- Regulatory framework: stability plus international competitiveness, not one or the other
The choice of ‘international competitiveness’ over ‘deregulation’ signals where Schubiger plans to position the lobby. The framing borrows the same language Rohner used in his May 2026 SBA farewell about the Swiss financial centre’s competitive future.
Bollinger has run Julius Baer since January 2025 after a career as co-head of private wealth management for Europe, the Middle East, and Africa at Goldman Sachs in London. The VAV also elected Alexander Classen, chairman of the board at EFG International, and Marcel Rohner, vice-chairman of UBP’s board, to the broader board. Classen and Rohner expand the lobby’s coverage of the top-tier Swiss private-banking names without changing its fundamental shape. Schubiger spelled out the wager in a written statement released after the vote.
Switzerland is recognised worldwide for the quality and trustworthiness of its wealth management. To ensure this remains the case, we need successful market participants, well-trained professionals, an openness to new technologies, and a regulatory framework that creates stability while guaranteeing international competitiveness. I am committed to contributing towards these objectives together with my colleagues.
Statement by Georg Schubiger, co-chief executive of Vontobel, reported by finews.com following his election as VAV president on 22 June 2026.
Both Bollinger and Schubiger were described by the VAV as bringing extensive international leadership experience in wealth management and private banking. Their task is to translate the four-pillar framing into the lobby’s response to a regulatory cycle the VAV itself has flagged as growing more crowded. The wager lands at the start of a year already defined by AI roll-outs, AML reform, and a new cross-border agreement with the UK.
Why Both Handovers Land in the Same Week
The September timing is not accidental. Pradelli’s two-year presidency of the VAV coincided with a sharpening of the regulatory backdrop, from Switzerland’s ongoing anti-money-laundering reform to the EU’s CRD VI regime reshaping how Swiss banks serve European clients.
The Bern Financial Services Agreement between Switzerland and the United Kingdom entered into force on 1 January 2026, recalibrating market access for Swiss banks on UK business. Swiss financial-crime prosecutors said earlier this month that outdated rules are straining their ability to keep pace with white-collar cases. Schubiger will be tested on whether his four-pillar agenda can survive a regulatory cycle the VAV itself has called out as crowding 2026. Pradelli moves one floor up to chair the broader banking-industry group, with a mandate to defend the international competitiveness Schubiger referenced in his opening statement.
Frequently Asked Questions
Who is Georg Schubiger?
Co-chief executive of Vontobel since January 2024, sharing the role with Christel Rendu de Lint. Schubiger previously ran Vontobel’s wealth-management business and held senior roles at Danske Bank Group, including a stint as chief operating officer. He has served as VAV vice-president since 2024.
What is the VAV?
The Association of Swiss Asset and Wealth Management Banks, a lobby that represents 23 Swiss banks specialising in wealth management for private and institutional clients. Member institutions collectively manage more than CHF 1.4 trillion in client assets and employ over 21,000 people across Switzerland and abroad.
When does Schubiger take over as VAV president?
The change takes effect on 18 September 2026, according to the VAV’s announcement. The VAV elected Schubiger at an extraordinary general meeting on 22 June 2026.
Who is Giorgio Pradelli, and what is he moving to?
Chief executive of EFG International since 2018. He has served on the VAV board since 2019 and led the association for the past two years. The Swiss Bankers Association unanimously elected him chairman at an extraordinary meeting on 11 May 2026, with the official handover scheduled for Bankers Day on 17 September 2026. Pradelli will remain CEO of EFG International.
Who else joined the VAV board in this reshuffle?
Stefan Bollinger, chief executive of Julius Baer since January 2025, was selected as VAV vice-president. Alexander Classen, chairman of EFG International’s board, and Marcel Rohner, vice-chairman of UBP’s board, were elected to the VAV board as new members.
