 Switzerland and its Financial Center
Facts & Figures
Switzerland, a small country on the world scale, has successfully made a name for the quality of its services and goods in many fields: watchmaking, pharmaceuticals, machine tools, food products (chocolate and cheeses), etc. All of these accomplishments attest to the quality of the workforce and its desire to do the job well.
However, if there is one economic activity that stands out in particular for contributing the most to the relative prosperity of our country, it is the financial industry.
Switzerland is one of the world’s main financial centres, with a strong specialization in private and institutional asset management.
The country's position in the heart of Europe, the importance its government attaches to continuity, its liberal principles and economic stability, its dedication to the free movement of capital and the protection of bank client confidentiality make Switzerland an ideal location for the management of private capital.
Furthermore financial expertise, multilingual skills and highly developed information technology have attracted investors to Switzerland from the four corners of the earth. Some 35% of the world's private assets deposited outside the country of domicile are managed from Switzerland.
At the end of 2008, 330 banks were physically present in Switzerland. By May 2006, banks manage CHF 4'577 billion in client assets under management. Out of this amount, 41 % came from Swiss clients and 59% from foreign clients.
Culture of Service
The excellence of service is seen immediately with the welcoming reception, the ready availability of banking professionals, and the personalized and close-knit customer relations that only confidence and confidentiality can impart. It is also shown through the counseling and investment strategies implemented according to client expectations, without forgetting the precision and efficiency of the administrative follow-up procedures. Client satisfaction made the reputation of the Swiss financial industry, due to the competence of managers and specialists and their knowledge of foreign languages and cultures, the diversity of banks and other financial partners, and the vast choice of financial instruments.
Global strategies
Global management strategies with effective distributions of permanently optimized assets account for the renown of Swiss bankers.
Starting in the 17th century, they began developing international strategies and heavily diversified their investments over currencies, geographic areas, countries and economic segments. This attention to asset distribution and risk control remains one of the foundations of Swiss banking know-how.
Exemplary confidentiality
The Swiss bank client confidentiality laws respond to a fundamental imperative for liberty and of respect for individual rights. They provide a legal dimension to the absolute discretion which has always been a cornerstone of Swiss banking.
The legal system can waive the confidentiality rules in case of criminal offences. Outside of these cases, Swiss bank clients enjoy limitless protection and the knowledge that their manager will always maintain absolute discretion. In this domain, personal and professional ethics lie deeper than laws.
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