November 26 in Zurich Corporate Taxes

Talacker 41, 8001 Zurich, Switzerland, Phone: +41 43 443 72 00, Fax: +41 43 497 22 70, [email protected], www.amcham.ch, October 2019 / No. 395

The world at the edge of a precipice?

Dear members and friends

Today’s media are full of crises. Brexit, impeachment, trade wars, currency wars, capital wars, recession, environmental disasters! Nothing seems to go right; everything goes down the drain. How much do we wish for some facts to be used inspite of the imperatives of democracy and the necessities of 24 hours breaking news. This demand needs to be addressed to all sides of the political spectrum! Global business does well, despite some Zurich, September 12: Fireside Chat with Ginni Rometty. Silvio Napoli, Chairman, Schindler Holding slow down. We are far away from a trade & Chairman, Swiss Amcham; Ginni Rometty, Chairman, President & CEO, IBM Corp.; Christian Keller, war: for example, US exports to China General Manager, IBM Switzerland represent 0.6% of the US GDP, Chinese exports to the USA 3.9% of China’s GDP. Corporate taxes: Certain tariffs on these volumes will not A story with many episodes create a war! Recession might be an With a positive vote by the Swiss population increasing risk, but certainly not a fact. on May 19 and with final cantonal votes (es- Time for scenario planning, not panic! pecially in the largest canton Zurich), Episode 1 The Swiss-US business continues to do in the saga of corporate tax reform has been very well. In the first half of 2019, Swiss successfully completed – after more than 12 exports to the USA grew 3.9%. In June, years! But as in successful TV series, Episode 2 Swiss exports to the USA were larger than is right ahead of us: OECD plans to undertake exports to Germany: first time ever! Not a massive shift in the principles of corporate bad considering the fact that 15 years taxation. Spurred by many countries’ efforts to ago, exports to the USA were one third tax (US) digital companies and their revenues, of the exports to Germany! The relation- the OECD targets a shift of taxation from the ship between the Sister Republics is at place of value creation to the place of sales. Geneva, Sept. 26: Edward T. McMullen, U.S. a historical high mark with - in the last Ambassador to Switzerland and Liechtenstein This is clearly favoured by countries with large 6 months - half a dozen top level visits markets and will go to the clear detriment of between US and Swiss ministers, topped Switzerland with its R&D centers and management HQs. Consequences for the Swiss by the first reception of a Swiss President economy and the many international companies based in Switzerland are still vague. by the US President in the White House. The Swiss Finance Minister (and this year’s President of Switzerland) has spoken about With the relationship between Switzer- a tax shortfall of CHF 5-10 billion. Clearly, Episode 2: “The Global Tax Reform” has been land and the EU in dire straits, it is time launched! for an even closer cooperation between Switzerland and the USA. We both need Corporate Tax Symposium 2019: November 26 in Zurich a Free trade Agreement! With the implementation of the historic U.S. Tax Reform, strong developments in the We are not at the edge of a precipice. OECD Project BEPS, the new OECD program “Inclusive Framework”, Digital Services We are at the start of an interesting Taxation, many changes in tax legislation around the world, the fiscal environment looks mountain hike. Let’s pack the rain gear erratic and unplannable. Who will win, who will lose? What are the macro-economic and let’s go. consequences for involved countries? And what surprises lurk just beyond the horizon? Wishing you a great fall season In this unique symposium, we will try to bring some answers to these tough questions. The top speakers list includes Barbara Angus, EY, former Chief Tax Counsel, House of Martin Naville Representatives; Bob Stack, Deloitte, former Assistant Secretary for Int. Tax Affairs at US CEO Treasury; Andrian Hug, Director Federal Tax Administration; and many more. Program and registration: www.amcham.ch/events/

The latest events Content (more pictures on pages 4/5/8) Business News from the United States. ...2 The Chamber & You...... 6/7 Business News from Switzerland...... 3 Masthead ...... 7 Chamber Events...... 4/5 Chamber Events Plan ...... 8

Celebrate the future With KLM’s 100th birthday, we proudly look forward to a bright future, ready for the exciting challenges and opportunities ahead. Business News from the United States

Solid U.S. retail sales calm demand, a move aimed at derisking the lowest first-half performance for 13 years. some worries about economy government’s USD 22 trillion of debt and Revenues fell across the board, with the U.S. retail sales increased more than ex- locking in low interest rates. In an interview deepest decline in equities trading, down pected in August, pointing to solid consumer with New York Times he stated that they 17% to USD 22.1 billion. Fixed income, spending that should continue to support were going to start with 50 years, and if currencies and commodities revenues fell a moderate pace of economic growth. The they are successful, they would consider 9%, while investment bank advisory was report from the Commerce Department in 100-year bonds. The longest-dated U.S. down 8%. The banks’ profitability also mid-September could further allay financial Treasury currently is 30 years. Fed Chair suffered, with operating margins sliding 500 market concerns of a recession, which have Jerome Powell and other policymakers see basis points to 31%, their lowest level for been fueled by year-long trade tensions U.S. economic conditions as still generally four years. between the United States and China as favorable despite a global slowdown and a well as slowing global growth. Retail sales still-unresolved U.S.-China trade war. U.S. imposes duties on rose 0.4% in August, lifted by spending on structural steel from China and Mexico motor vehicles, building materials, health- U.S. to allow drivers to choose The U.S. Commerce Department said care and hobbies. quiet car alert sounds in early September it imposed duties on The National Highway Traffic Safety Ad- Chinese and Mexican structural steel after Trump says he will unveil ministration proposed in September allow- making a preliminary determination that “middle-income” tax plan in 2020 ing automakers to offer a variety of sound producers in both countries had dumped In mid-September, U.S. President Donald choices for electric vehicles and other “quiet fabricated structural steel on the U.S. Trump said his administration would unveil cars” to choose from to alert pedestrians. market at prices below fair market value. a tax overhaul plan aimed at middle-income The agency in February 2018 finalized The department said it imposed duties households next year, amid the 2020 presi- rules requiring EVs and hybrids to emit of up to 141% on Chinese structural steel dential election. According to the President, alert sounds to warn pedestrians of their and up to 31% on Mexican structural steel the administration is considering potential approach, extending to 2020 the deadline and will begin collecting cash deposits for tax cuts, seeking to play down market anxie- for full compliance. The long-delayed rules imports based on those rates. Commerce ties over a possible recession. At the end of require automakers like Tesla, Nissan and said it had found that imports of Canadian 2017, Trump passed a tax overhaul passed General Motors to add sounds to vehicles fabricated structural steel did not violate by the Republican-led Congress. when they are moving at speeds of up to U.S. anti-dumping laws. The Commerce 18.6 miles per hour (30km/h) to help prevent Department is scheduled to release final U.S. farmers receive USD 4.07 billion injuries among pedestrians, cyclists and anti-dumping duties in its fabricated struc- of latest government trade aid the blind. At higher speeds, tire noise, wind tural steel investigation in late January 2020. resistance, and other factors eliminate the The U.S. International Trade Commission The U.S. Department of Agriculture has paid need for a separate alert sound, according needs to find that American steel fabricators USD 4.07 billion of its latest round of com- to regulators. NHTSA has said the rules suffered injury from Chinese and Mexican pensation for farmers suffering from the trade will cost the auto industry about USD 40 imports for the duties to be locked in place tensions with China as of mid-September. million annually because automakers will for a five-year period. The Trump administration in July announced need to add an external waterproof speaker USD 16 billion to compensate farmers for to comply. The benefits of the reduced U.S. manufacturing shrinks - lost sales due to China’s retaliatory tariffs injuries are estimated at USD 250 million 10-year bond yield hits three-year low on U.S. agricultural products, on top of to USD 320 million annually. USD 12 billion pledged in last year’s aid U.S. Treasury yields fell in early September, package. The aid program got off to a rocky with the benchmark 10-year yield hitting its Big investment banks have start with farmers complaining of difficulty lowest since July 2016, after U.S. manufac- worst start to year since 2006 signing up and confusion over payment turing data showed the first contraction since rates. The world’s largest investment banks have 2016 on worries about a weakening global had their worst start to a year since 2006, economy and U.S.-China trade tensions. 100-year Treasury bond possible, according to the latest data published by in- The Institute for Supply Management said its according to Steven Mnuchin dustry analyst Coalition in early September. index of national factory activity decreased In the first six months of 2019, investment in August to 49.1, the lowest since January U.S. Treasury Secretary Steven Mnuchin banks reported revenues of USD 76.8 2016. A reading below 50 indicates contrac- said in September, the United States will billion, down 11% on the prior year and the tion in manufacturing, which accounts for issue 50-year bonds if there is proper about 12% of the U.S. economy.

Loving parents leave their wealth to grateful children. If only it were that simple.

Pictet North America Advisors Geneva and Zurich +41 22 307 9000 www.pictetadvisors.com

2 Business News from Switzerland

Neighboring regions urge nology institute ETH Zurich came joint 13th, Many Swiss private banks EU understanding for Switzerland down two places from the last year. Oxford facing “extinction” Nine regions or provinces in countries is top overall for the fourth year running; the Switzerland’s vaunted private banking scene bordering Switzerland have called on the California Institute of Technology rises three is tipped to shrink further with a third of banks European Union to show understanding places to 2nd; Cambridge drops one place struggling to make ends meet in the face of and allow the Swiss more time to agree to a to 3rd; Stanford and the Massachusetts adverse conditions. An annual health check framework deal. In a joint letter to EU Com- Institute of Technology (MIT) round out the of the sector has forecast that smaller play- mission President Jean-Claude Juncker in top five. Among the other Swiss universities, ers could be “driven to extinction”. A study early September, they expressed concern the Federal Institute of Technology Lausanne of 87 private banks by consultants KPMG that recent developments were a cause for (EPFL) fell three places to joint 38th and the and the University of St. Gallen says that concern, particularly the Swiss-EU stock University of Zurich remained in 90th. The 34% were “weak” performers in 2018. That exchange spat which could create a down- ETH Zurich is regularly placed highly in in- is a 50% increase from 2017. More than ward spiral, according to media reports. The ternational rankings - in June it came sixth in half of this category operated at a loss last regional leaders deem the framework deal the QS rankings, which, along with the TES year, according to the report. The number negotiated between the European Union and Shanghai rankings is considered one of of “strong” performers fell from 26 banks in and Switzerland to be just and fair, but fear the most cited indicators of university quality. 2017 to 19 this year and is dominated by the consequences for neighbouring regions larger players with at least CHF 25 billion if it were to be rejected in a Swiss popular Switzerland has the of client assets under management. One of vote. They say that Switzerland’s political world’s best postal services the biggest problems facing small banks is system of direct democracy means it needs In a report, the Universal Postal Union looks that they cannot afford a physical presence the time to bring all social groups on board. at the postal services of 170 countries and abroad, particularly in growing markets such Signatories of the letter include the Ger- ranks them based on four main components as Asia. This makes it harder to attract new man states of Baden-Württemberg, which - reliability, reach, relevance and resilience. clients and their wealth. A lot of banks are initiated it, and Bavaria; three neighboring Ranking top in 2018 is Switzerland, followed also struggling to keep a lid on the cost of regions of France, two in Austria and two by the Netherlands, Japan, Germany and running their business, as evidenced by the in Italy. France. cost-income ratio benchmark. This measures the percentage of annual income that is taken Swiss financial sector shines Switzerland adopts up by staffing, regulatory and other expenses. in international survey higher fees for Schengen visas Switzerland’s financial center has a posi- Switzerland has moved into line with Eu- Domestic manufacturers contribute tive reputation abroad, despite a string of ropean Union changes to Schengen visa to “High Price” Switzerland scandals in 2018, according to a 19-nation applications that will raise the costs for A price comparison study reveals that Swiss survey conducted by Presence Suisse. The adults and children aged between six and manufacturers charge domestic customers reputation and quality of Swiss banks were 12. Although Switzerland is not a member significantly more for their products than rated as “good” to “very good” by most re- state of the EU, it is part of the Schengen they do in foreign markets. While the price spondents in the international poll of 12,767 zone, forcing it to adopt the new procedures, difference between Switzerland and the people. The ethics and responsibility of the which are aimed at making other countries European Union has narrowed, many Swiss Swiss banking sector are also well regarded. repatriate failed asylum seekers. But the consumers still feel ripped off. Most of the Compared to Germany, Denmark, Sweden changes also promise to make it more ef- Swiss manufacturers gave the same reason and Britain, Switzerland has the best overall ficient and faster to obtain a visa. It will be for the continued price differentials. Higher results, the survey found. It is even rated possible to submit applications six months production costs in Switzerland, including much more positively than the German, before taking a trip instead of the current wages, rent and logistics, top the list. Others British and American financial centers. three months. There will also be an option said it is up to retailers to set prices, all of fo fill in applications electronically. Multiple- whom bargain with manufacturers on how ETH Zurich remains best university entry visas with a longer validity period will much they are willing to pay for products. In outside the UK and North America be issued for a period of up to five years some cases, products are manufactured lo- Switzerland is the only nation outside Britain rather than the current one-year limitation. cally, which can also affect the geographical and North America to make it into the top 20 This will ease the administrative burden for price of products. And tariffs on agricultural of the Times Higher Education (THE) World regular travellers, according to the Swiss products coming into Switzerland can add University Rankings 2020. The federal tech- government. costs.

Advanced Publishing Do CMO’s and CFO’s talk about the same assets?

fo-zuerisee.ch Media Asset Management

3 Chamber Events

Ginni Rometty (IBM Corporation), Silvio Napoli (Schindler Holding/Swiss Amcham) Robin Errico (Ernst & Young), Björn Johansson (Dr. Björn Johansson (1) Associates) (1)

Peter Friedli (Friedli Corporate Finance), Hans Ulrich Maerki (Former Chairman & Peter Quadri, Patrick Frost (Swiss Life Group) (1) CEO IBM EMEA), Peter Weibel (UZH Foundation) (1)

1. Zurich, Sept. 12: Fireside Chat with Ginni Rometty (Chairman, President and CEO, IBM Corp.) and Silvio Napoli (Chairman, Schindler Group & Chairman, Swiss Amcham)

2. Geneva, Sept. 26: Edward T. McMullen, Jr., U.S. Ambassador to Switzerland and Liechtenstein

3. Zurich, Sept. 27: Bernd Bauer, CEO, Edelweiss Air. “Edelweiss – Successfactors and Challenges of a Swiss Leisure Airline”

4. Lugano, Sept. 30: Company Visit at IDSIA - Dalle Molle Institute for Artificial Intelligence

5. Miami, Sept. 12: Dufry Logistics Facility Tour

6. San Francisco, Oct. 9: US-CH Trade and Economic Update

7. Los Angeles, Oct. 10: International Luxury & Swiss Impact

Pictures: [MS] Markus Senn

Luncheon with Edward T. McMullen, Jr., U.S. Ambassador to Switzerland and Andreas Staubli (PwC), Keynote speaker Bernd Bauer (Edelweiss Liechtenstein (2) Air), Martin Naville (Swiss Amcham) [MS] (3)

4 Chamber Events

Jean-Manuel Richier and Kim Fox (both HSBC Manuel Ebner (Bank of America Merrill Lynch Int.), Maya Sidler (Zurich Insurance Group), Patricia Bank) [MS] (3) Reto A. Wilhelm [MS] (3) Horgan (Goldman Sachs Bank) [MS] (3)

Company Visit at IDSIA (4) Dufry Logistics Facility Tour (5)

Board members of the San Francisco Chapter (6) Vice Chair Roger Wacker and panelists (7)

Digital means work gets done, Intelligent Digital means less work

Find out more about how we’re already working with our clients to put Intelligent Digital into action.

#IntelligentDigital www.pwc.ch/intelligentdigital

Intelligent-Digital-May 2019 Business News-186x65mm.indd 1 17.04.2019 08:28:28 5 The Chamber & You

New Members Chamber Members in the News leading manufacturer of physical access solutions in North America such as speed Allgäuer Executive Coaching, Weggis ABB gates, turnstiles and other admission de- Executive coach The Board of ABB has unanimously ap- vices with a focus on office, commercial and government buildings, as well as sports, Basel Area, Maplewood, NJ pointed Björn Rosengren as Chief Executive Officer. He will join ABB on February 1, leisure and entertainment facilities. Com- Economic promotion agency for Basel bined with its own physical access solutions Area 2020, and succeed CEO, Peter Voser, in this role on March 1, 2020. At that time, business, dormakaba will achieve one of the BRUGG Rohrsystem AG Peter Voser will revert to his position at leading positions in the respective market Production of flexible pipe systems ABB solely as Chairman of the Board. in North America. Alvarado was founded in Björn Rosengren, a Swedish citizen, is a 1956 and has around 90 employees. The Fincons Group AG, Küssnacht highly experienced, international executive parties have agreed not to disclose the IT conculting and leader of industrial businesses. He terms of the transaction, which is expected Frazier & Deeter LLC has been the CEO of Sandvik, a high-tech to close in the third quarter of calendar CPAs & advisors global engineering group, since 2015. Prior year 2019. to that, he was CEO of Wärtsilä Corporation. Läderach (Schweiz) AG, Ennenda +GF+ Production and sales of Swiss Credit Suisse GF Piping Systems, a division of GF, an- premium chocolate products Credit Suisse announced that Kinner nounced in August the acquisition of Global Läderach (USA) Inc., New York Lakhani will join the bank as Head of Supply Co. Inc., Hallandale, Florida (USA), Retail chocolate Group Strategy & Development. In this role, a specialized service provider to the marine Kinner will be based in Zurich and will industry. The marine market is a growing Schumetta Inc., Malibu, CA report to Tidjane Thiam, Chief Executive key strategic market segment for GF Piping Architectural design Officer. Kinner joins from Deutsche Bank, Systems, the largest division of GF. Global Supply Company Inc. has been a long- TAE Global GmbH, Luzern where he was Head of European Company standing, trusted partner for the division to Energy Research & Advisory, as well as Head of European Financials Research, having service the retrofit market for cruise ships The Food Concept, Hollywood, FL joined the bank from Citigroup in 2015, in the USA. The acquisition strengthens the Food and beverage where he was co-Head of the European technical and logistics service support of GF Banks Research team. Piping Systems to the cruise line customers. Both parties have agreed not to disclose any Clariant financial details of the transaction. Clariant announced in late July that Er- Julius Baer nesto Occhiello, Chief Executive Officer and Member of the Executive Committee, The Board of Directors of Julius Baer has has decided to leave the company for per- appointed Philipp Rickenbacher as new sonal reasons with immediate effect. The CEO, effective September 1, 2019. Philipp Board of Directors accepted his resignation Rickenbacher was Head of Intermediaries and asked Hariolf Kottmann, Chairman & Global Custody of Bank Julius Baer & Co. of the Board of Directors, to assume his Ltd. Prior to that, he was Head Advisory responsibilities in the interim as Executive Solutions for two years, responsible for Chairman until a successor is found. Until the development of the Bank’s innovation further notice, Clariant’s Executive Com- advisory approach and of holistic wealth mittee will consist of Hariolf Kottmann, management solutions. The 48-year-old Executive Chairman, Patrick Jany, Chief joined Julius Baer in 2004 from McKinsey Financial Officer, and Hans Bohnen, Chief & Company. The CEO appointment is the Operating Officer. outcome of the Board’s long-term succes- sion planning. The previous CEO, Bernhard dormakaba Hodler, retired from his role and from Julius Baer’s Executive Board on August 31, 2019. dormakaba has signed an agreement to He had been with the company for 21 years acquire Alvarado Manufacturing Co. Inc., and CEO since 2017. based in Chino (CA/USA). Alvarado is a

Unique problems need unique solutions. www.deloitte.com/ch/makeyourimpact

169777 Make you impact campaign vg.indd 1 9/20/2018 2:44:09 PM 6 The Chamber & You

Julius Baer Danaher Group’s KaVo Dental, Pentax Beginning of September, a team of ten ex- Medical and GE Healthcare. Starting in perienced wealth managers started working 2014, Girts Cimermans served as CEO of at Julius Baer in Madrid to develop and grow Vision Care, Hoya’s USD 2 billion optical market Portugal on a cross-border basis. business. The newly appointed Market Head Portugal, José Maria do Cazal-Ribeiro, and Gonçalo Switzerland Global Enterprise Maleitas Correia, Team Head Portugal The Supervisory Board of Switzerland Switzerland Domestic, report to Carlos Recoder, Head Global Enterprise (S-GE) has appointed Talacker 41, 8001 Zurich Phone 043 443 72 00, Fax 043 497 22 70 Western Europe, Julius Baer. Dr. Simone Wyss Fedele as the new Chair www.amcham.ch of S-GE’s Executive Committee. She will CEO: Martin Naville Komax succeed Daniel Küng from October, when Editor Business News: Bettina Asaf E-mail: [email protected] Günther Silberbauer, who has been a he will retire after more than 15 years as CEO. Simone Wyss Fedele is an expert on member of the Executive Committee of Boston Chapter the Komax Group since 2019, has ex- internationalization issues and has relevant 420 Broadway pressed a wish to concentrate exclusively experience in business and politics. Cambridge, MA 02138 on his role as General Manager of Komax E-mail: [email protected] SLE in Grafenau, Germany, from 2020. UBS California - Los Angeles Chapter Jürgen Hohnhaus will replace him on the Following more than ten years in the Group 9461 Charleville Boulevard, #537 Executive Committee from January 2020. Executive Board of UBS, Ulrich Körner Beverly Hills, CA 90212 Komax SLE has been part of the Komax has decided to step down from his current Phone 626/252-2834 Group since its acquisition in 2014. Since roles as President Asset Management and E-mail: [email protected] then, it has recorded strong growth and is President UBS Europe, Middle East and California - San Francisco Chapter now the second-largest company in the Africa. He will remain with UBS as senior 601 Montgomery Street, STE 1400 Komax Group. advisor to the Group CEO until at least San Francisco, CA 94111 March 31, 2020. Suni Harford will join the Phone 415/433-6679 Straumann Group Group Executive Board and succeed Ulrich E-mail: [email protected] The Straumann Group announced in late Körner as President Asset Management. August two executive management appoint- Harford joined UBS in 2017 in her current New York Chapter role as Head of Investment for UBS Asset 500 Fifth Avenue, Room 1800 ments that will become effective on January New York, NY 10110 1, 2020. Robert Woolley is joining the Group Management. Sabine Keller-Busse will Phone 212/246-7789, Fax 212/246-1366 to lead its North American region - taking succeed Körner as President UBS Europe, E-mail: [email protected] over from Guillaume Daniellot, who will Middle East and Africa in addition to her succeed the current CEO, Marco Gadola, at current role as Group Chief Operating Southeast USA Chapter the beginning of 2020. At the same time, Officer. E-mail: [email protected] Holger Haderer, who currently heads the Group’s largest European subsidiary VP Bank Carolina Division (Germany), will also join the Executive The Board of Directors of VP Bank has E-mail: [email protected] Managment team, as EVP Marketing & appointed Paul H. Arni as the new CEO of Education, taking over from Frank Hemm, VP Bank Group. Paul Arni is taking up his Florida Division who has decided to leave the company. position on October 1, 2019. Until then, E-mail: [email protected] Dr. Urs Monstein, Chief Operating Officer, Sulzer is exercising the CEO function on an interim Girts Cimermans will join Sulzer on October basis. Paul Arni has long-standing banking 21, 2019, as President of the Applicator and management experience. His career Opinions expressed do not necessarily reflect Systems (APS) division and member of path took him from UBS and Credit Suisse those of the Chamber‘s Board of Directors. the Executive Committee. He succeeds to Bank Julius Baer and Deutsche Bank. 5 issues p.a.; membership publication Amaury de Menthière, who has decided He has been appointed by the Board of to retire. Girts Cimermans has held senior Directors, subject to the approval of the executive positions at Hoya Corporation, Liechtenstein Financial Market Authority.

Unlocking the potential of those who advance the world

bcg.com

7 Chamber Events Plan

Lugano Nov. 7, Thursday, 5:30 pm - 8:30 pm Dec. 3, Tuesday, 5:00 pm - 7:15 pm Oct. 23, Wednesday 7:15 pm - 10:00 pm Fireside chat with Vasant Narasimhan, Wie smart produzieren die Swiss Hidden Ticino Annual Dinner 2019 CEO, Novartis, and Silvio Napoli, Champions? On. Christian Vitta, Presidente del Consi- Chairman, Schindler Holding Dirk Hoffmann, CEO, V-ZUG; Thomas glio di Stato e Direttore del Dipartimento Nov. 26, Tuesday, 8:00 am - 4:45 pm Landolt, Managing Director, IBM Switzer- delle Finanze e dell‘economia, Amminis- Corporate Tax Symposium 2019 land; Urs Riedener, CEO Emmi Group, trazione Cantonale - Consiglio di Stato Dr. Peter R. Altenburger, Attorney at Emmi Management; ; Lukas Winkler, Law, ALTENBURGER LTD legal + tax President & CEO, Inficon Holding Zurich Attorneys at Law; Barbara Angus, former Florida Oct. 21, Monday, 5:00 pm - 7:15 pm Chief Tax Counsel, Ways & Means Com- Hidden Swiss Champions - Schweizer mittee, U.S. House of Representatives Dec. 6, Friday Robotics-Szene an der Weltspitze & Global Tax Policy Leader, Ernst & SACC Special Event during «Art Basel» Hanspeter Fässler, Executive Chairman, Young; Dr. Vikram Chand, Executive Los Angeles ANYbotics; Daniel Kessler, Managing Director, International Tax Education, Partner, Boston Consulting Group (Swit- University of Lausanne; Joseph J. Nov. 23, Saturday, 7:30 pm - 9:30 pm zerland); Jürg Niederbacher, Partner & Czajkowski, former Senior Tax Counsel Attend the November 23rd Sharks Game Head of Zurich Branch, PwC; Dominique Exxon Mobil Corporation; Manuel de against the New York Islanders and Schär, CTO, Güdel Group; Prof. Roland los Santos, CTPA Transfer Pricing meet Swiss players Timo Meier and Joe Siegwart, Director Autonomous Systems Advisor, OECD; Dr. Pia Dorfmüller, Tax Thornton! Lab, Founding Co-Director of Wyss Zu- Advisor, Partner, P+P Pöllath + Partners; Dec. 5, Thursday rich, ETH Zurich Peter Dormann, Tax Director, Johnson Christmas at Tiffany‘s & Johnson - Cilag; Dr. Markus Frank Oct. 24, Thursday, 6:30 pm - 9:00 Quarterly Huber, Head of European Tax, Biogen; Special Evening with Markus Leitner, Orange County Swiss Business Mixer Adrian Hug, Director Federal Tax Ad- Ambassador of Switzerland to the Islamic ministration, Swiss Federal Tax Adminis- Republic of Iran San Francisco tration FTA; Prof. Dr. Georg Kofler, Head In cooperation with The American of the Tax Institute, Johannes Kepler Nov. 13, Wednesday, 5:30 pm International Club of Zurich (AICZ) and Universität Linz; Prof. René Matteotti, SACC Stammtisch The American Women‘s Club of Zurich Attorney at Law, Tax Partner AG & Pro- Dec. 5, Thursday, 5:30 pm - 9:00 pm (AWCZ) fessor of Law, Chair in Swiss, European Holiday party with Fundraiser Oct. 30, Wednesday, 11:15 am - 2:00 pm and International Tax Law, University HR Personnel Forum, UBS Compen- of Zurich; Dr. Andreas Risi, Managing sation Survey Outlook 2020 and Panel Director, Head of Tax Switzerland, UBS; Discussion H. David Rosenbloom, Director of the Chantal Büchi Neher, Head HR and International Tax Program of NYU Law See www.amcham.ch for more event details Member of the Exec. Board, Zühlke School & Partner, Caplin & Drysdale; Engineering; Dr. Daniel Kalt, Chief Eco- Robert Stack, Deputy Assistant Secreta- nomist Switzerland, UBS; Dipak Mane, ry for International Tax Affairs at the U.S. Chief HR Officer (Member of the Exec. Department of Treasury & Managing Board), Bühler Management; Pascale Director, Washington National & Interna- Saar-Naville, Former Head Corporate tional Tax, Deloitte Tax Governance & Executive Remuneration, Zurich Insurance Company

Swiss Amcham’s favorite carrier

Swiss Amcham Zurich: Staff outing, August 15, 2019. Top: Ileana Garriga, Martin Naville, Liana Wild, Karin Widmer. Bottom: Lara Waelte, Bettina Asaf, Diane Wey