On 23/24 June 2005, a diverse international group of wealth owners, opinion leaders and wealth management experts gathered in the Swiss Spa Resort of Bad Ragaz.

The Council traces its beginnings to a small, intimate gathering over two days at the Schatzalp Hotel in Davos, Switzerland during the World Economic Forum's Annual Meeting in January 2004. The Council aims to provide its members with a platform that fosters innovation and leadership by exposing them to new ideas and linking them with peers. Through this cross-fertilization, the Council will generate strategic foresight in issues pertaining to the preservation, growth and application of private wealth. The guiding principle of the Council is responsible wealth ownership.

The co-hosts of this year's meeting were Mr. Fritz Kaiser, founder of  the Council; Dr. Thomas Schmidheiny, Chairman, Spectrum Value Management; Mr. Erik Brenninkmeijer, Chairman, Cofra Holding and the Hon. Al Gore, former U.S. Vice-President & Chairman, Generation Investment Management.

The meeting was devoted to an analysis of "Opportunities in Times of Change". Beginning with a keynote address by Mr. Gore, the meeting examined the impact of expected global change over the coming decade on the context for preserving and growing substantial private wealth. A panel comprised of wealth owners and experts subsequently elaborated on the themes outlined in Vice-President Gore's "thesis of change".

Participants of the Council meetings gathered to work on an in-depth understanding of the global picture of change and its implications for the responsible wealth owner as well as to discuss the future role of the Council.

The emphasis throughout the 2-days was on interaction and an active exchange of ideas rather than a classic, large-scale conference format. Participants engaged in exercises with the input of the respective expert contributors with a view to refining their own understanding of emerging opportunities and threats.