GWP is hiring Swiss financial regulator Finma's point person for crisis management of systemically relevant banks.
Zurich-based Geissbuehler Weber & Partner is appointing Reto Schiltknecht as senior counsel, effective September 1, it said in an emailed statement on Tuesday. GWP said it is looking to Schiltknecht's national and international experience to advise financial services clients.
Schiltknecht spent the last ten years at Finma, Switzerland's financial regulator, where he was responsible for so-called too-big-to-fail measures. The Swiss central bank declared five lenders as systemically relevant following the 2008/09 financial crisis: UBS, Credit Suisse, Raiffeisen, Zurich's cantonal bank, and Postfinance.
Crisis Veteran
The banks had to design and display recovery and resolution plans in the case of a renewed crisis. Schiltknecht was the Bern-based regulator's point person for this, and represented Switzerland in international bodies like the Financial Stability Board.
Schiltknecht, who is Swiss, was also responsible for crisis preparation and management, legislation on the issue, and policy projects as well as involved in conceiving capital instruments for lenders.
