The transparency rules on party financing publicly reveal for the first time how much money major donors contributed in the parliamentary elections last fall. This includes a number of illustrious names from the world of finance.
This is unprecedented for Swiss politics. For the first time ever, the Swiss Federal Audit Office (EFK) has revealed which major donors supported which parties and candidates with donations during the National Council and Council of States elections.
Companies and business associations have been at the forefront here and have gone the extra mile. In Switzerland, campaigning and campaign financing are part and parcel of lobbying.
Close Ties
Predictably, the umbrella organization of the economy Economiesuisse, the Swiss Bankers Association (SBA), and the Farmers’ Association have supported the political parties that are close to their economic interests.
But some well-known names of private individuals from the world of finance also appear on the list. One example is former Vontobel CEO Zeno Staub (image below), who reportedly paid 50,000 Swiss francs to the Economic and Social Working Group of the Canton of Zurich (AWG), thereby supporting his own (unsuccessful) election campaign as a centrist candidate for the National Council.
(Image: Vontobel)
Other Prominent Donors
The AWG also received 25,000 Swiss francs from Eric Syz, the CEO of Syz Geneva Banking Group.
The former chairman of banking giant Credit Suisse (CS) and CEO of reinsurer Swiss Re Walter Kielholz (image below) is also on the list of donors who have contributed more than 15,000 francs. He gave 20,000 Swiss francs to the Free Democratic Party (FDP) in Bern.
(Image: Swiss Re)
Donato Scognamiglio, the chairman of Zurich-based real estate valuation specialist IAZI, supported his own candidacy for the Evangelical People’s Party (EVP) in the amount of 28,000 Swiss francs, according to the data.
Only a Portion is Subject to Disclosure Obligations
The companies include leading Swiss life insurer Swiss Life, which has made a donation of 30,000 Swiss francs to the Swiss People’s Party (SVP), and 40,000 francs to the FDP. The FDP also got 30,950 francs from Swiss Re.
But these sums are clearly only a small part of the funds that have actually been donated if Swiss Life’s entire political commitment is considered. According to the 2022 annual report, the group has supported «center-right parties and individual politicians» with around 500,000 Swiss francs.
Just one year ago, the chairman of the board Rolf Dörig publicly announced he would be joining the SVP.
Money for Geneva Liberals
The Geneva liberals were given money by local private bank Union Bancaire Privée (UBP). The «Parti libéral-radical genevois» wing received 35,000 Swiss francs. Pictet-Senior-Partner Renaud de Planta donated 33,000 Swiss francs to the Geneva Liberals.
Some cooperative banks in the Raiffeisen Group are also on the list of donations for politicians. Other Regional Players Stand Out For example, 40,000 Swiss francs went from the Zurich Banking Association to FDP politician Hans-Peter Portmann.
Switzerland’s largest bank, UBS, does not appear as a donor in the EFK’s lists. But, as the largest contributor to the Bankers Association, it is likely to have a say on the allocation of support for politics. 51,000 Swiss francs from the SBA went to the FDP, SVP, Die Mitte (The Centre), and the Green Liberals via «election campaign support for a sustainable financial center.»
Around 2.2 Million From «Interest Group of Industry Associations»
But compared with the 500,000 Swiss francs each plus benefits amounting to nearly 200,000 Swiss francs in total, spent by Economiesuisse, and trade, employer, and farmers’ associations through the «interest group of industry associations,» this amount seems relatively modest.
