Brokering International Banking: Board Members of Foreign Banks in Switzerland, 1947–1980

This study examines the key role played by Swiss intermediaries in facilitating the establishment of foreign banks in Switzerland during the post-World War II era, particularly between the 1950s and 1970s. As Switzerland became a global financial hub, attracting international banking institutions with liberal regulations and tax advantages, the influx of foreign banks faced resistance from local authorities and financial institutions. Moreover, Swiss company law required that the majority of board members be Swiss nationals, providing an opportunity for local professionals to act as crucial intermediaries. By analyzing archival evidence and constructing a biographical database, this research identifies and categorizes the local actors who enabled the expansion of foreign banks, including lawyers, politicians and business leaders. These ‘hidden helpers’ provided legal expertise, facilitated regulatory compliance and lent credibility to the ventures through their elite networks. The findings shed light on the concrete mechanisms of global financial integration and the pivotal yet often overlooked role of local brokers in shaping the Swiss financial centre's internationalization and its dominant position as an international offshore centre.