Raiffeisen and Bank Vontobel have 0ften been at loggerheads in recent years. On the board of a networking organization, the boss of Raiffeisen is now following in the shoes of his counterpart at Vontobel.

Patrik Gisel, CEO of Raiffeisen Switzerland, has been elected to the board of Schweizerische Management Gesellschaft (SMG), a platform for Swiss top executives to exchange views. Zeno Staub, the head of Vontobel, has decided to leave after eight years, SMG said in a statement today.

Thomas Ladner, the president of Quantum Global Investment, has also left the board of SMG.

The networking organization has some 1,200 members, executives from a wide range of Swiss companies. Now, Raiffeisen and Vontobel, which have been fighting each other tooth and nail over the past years, happily pass the baton at SMG.