The Swiss Association of Wealth Managers (SAM) celebrated its 40th anniversary with a well-attended congress in Zurich, drawing about 200 guests. Vivien Jain, the association's operational leader, highlighted the industry's fragmented nature, noting that 1,448 licensed wealth managers employ an average of 3.3 staff each and manage 140 million Swiss francs. She emphasized the sector's sensitivity to rising supervisory costs, particularly referencing WAK postulate 26.4048, which aims for risk-based supervision.
State Secretary for International Finance Daniela Stoffel addressed concerns about regulatory burdens, such as the Finma supervisory levy and the too-big-to-fail bill. She encouraged industry participation in regulatory processes, stressing the importance of thoughtful contributions over mere copy-and-paste submissions. Stoffel also mentioned ongoing work on capital market analysis and stablecoin regulation, while dismissing the need for AI-specific financial regulations.
Andreas Schrimpf, Head of Financial Markets at the Bank for International Settlements (BIS), outlined four major financial threats: AI, sovereign debt, nonbanks (particularly leveraged hedge funds), and geopolitics. He noted that median government debt in advanced economies stands at 78 percent of GDP, with rising interest rates and increased leverage in the system. Schrimpf also highlighted the dollar's weakened role as a safe haven, noting its decline alongside equities in April 2025.
The event concluded with workshops on compliance, macroeconomic developments, and investment strategies in a fragmented world, followed by a networking lunch.