Banking Growth: Compulsory or Voluntary
Thursday, 16. October 2008 | 13:30 Uhr
Speaker
Organisation
Reporting
Werner H. Peyer, Global Wealth Management & Business Banking, at UBS Zürich outlined the causes of the current financial crisis with the aid of the popular comic character Obelix. Low interest rates and very accessible loans, an enormous price boom in the real estate sector – from 1994 until 2008, it increased by more than 225 percent – stirred up the markets. The sudden fall in demand has burst the bubble this year. He considers the measures taken by the Swiss federal council as important to recover the confidence. According to him, this is also a step to preserve the borrowing capacity, especially of SMEs, a fact that also secures jobs. When a participant asked him about further risks, he said: “If you operate a bank, then you lend money and this always entails risks.”
Werner H. Peyer
Born 1954
University of Zurich (French, German, English & History)
Zurich Institute for Personnel Administration
New York Institute of Finance
IMD Lausanne (Seminar for Senior Exec)
Since 2007 Vice Chairman, Global Wealth Management & Business Banking, UBS
2004–2007 Member of the Group Managing Board
2004–2007 Head Wealth Management for Zurich region
2002 Managing Director and Head of Wealth Management and Affluent Banking for Zurich region
Board member Zurich Opera Friends
Board member Swiss Heart Foundation
Council member Zurich University “Master of Applied History”
