Basel, 4 April 2005 - At its meeting today, the Board of Directors of the Swiss Bankers Association (SBA) agreed to the establishment of the Swiss Finance Institute and approved the fundamental features of its financing. Under the new name "Swiss Finance", research and training at university level as well as executive education in Switzerland in the field of banking and finance will be significantly improved and brought up to world-class standard. The next few months will see Swiss Finance taking further structural and physical shape.

At today's meeting, the Board of Directors of the Swiss Bankers Association (SBA) gave the go-ahead for the establishment of a foundation setting up the Swiss Finance Institute and agreed on the fundamental features of its financing for the next 15 years. Swiss Finance will benefit from the support of the Swiss government and universities who are providing financial assistance. For the past eighteen months, under the working title "Polyfinance", the SBA has been working with the State Secretariat for Education and Research as well as with various universities to create the basis for today’s decision. The Swiss Finance Institute will promote further education and research in the fields of banking and finance at university level in Switzerland. Pierre Mirabaud, Chairman of the Swiss Bankers Association, said: "Switzerland is one of the world's leading financial centres. With the Swiss Finance Institute, our country will also become one of the world's leading training centres for banking and finance."

Following today’s approval, work will now continue on the organisation and planning of Swiss Finance. The initiators of the Swiss Finance Institute will issue progress reports in due course.

Contacts
Thomas Sutter	James Nason
Head of Communications Switzerland	Head of International Communications
Swiss Bankers Association, Basel	Swiss Bankers Association, Basel
Tel. +41 61 295 92 06	Tel. +41 61 295 92 15
Fax +41 61 272 53 82	Fax +41 61 272 53 82
www.swissbanking.org	www.swissbanking.org