The Association of Swiss Cantonal Banks (ASCB) has appointed the new Banca State del Cantone Ticino CEO, Fabrizio Cieslakiewicz, to its board with effect from 1 July 2017.

Having announced that he will be taking over from Bernandino Bulla at BancaStato in June 2017, Cieslakiewicz has also taken on his role at the cantonal bank association.

The ASCB, which has been running for over 110 years, gathered all 24 institutions for its annual meeting, which this year was held in the canton of Obwald.

Combined, the 24 banks generated a profit of CHF2.8 billion over the course of 2016.

Speaking about the future of the association, executive director of the ASCB, Dr Urs Müller, said: ‘The cantonal banks are vectors of a common history, a common identity and common values, which constitute the base of a narrow cooperation and offers precious potential for synergy.’

During the meeting, Müller revealed plans to strengthen cooperation, grow the cantonal bank brand and increase ties between the banks ahead of incoming regulations in Switzerland.

He explained that the association will focus its attention on representing the banks’ political interests during the development of regulatory projects in the Swiss financial markets, including the LSFin/LEFin.

During an extraordinary general meeting held during the past financial year, Christoph Bugnon CEO of Urner Kantonalbank, John Häfelfinger CEO of Baellandschaftliche Kantonalbank were elected to the board of directors.