Geneva is proud of its banking tradition, which has placed it as the world reference in asset management, and a significant actor in the trade finance business.The Geneva Financial Center applies its competences and knowledge towards reinforcing and developing the Geneva Financial Center. To achieve this, it promotes the image of excellence that belongs to Geneva’s financial establishments both within Switzerland and abroad.Through its communication, it underlines its desire to build opportunities for interaction and dialogue with the general public, the media, public authorities and economic partners.
The Center works on improving and reinforcing the knowledge and competences of the banking and financial staff.In collaboration with the banking and financial association of Western Switzerland, it ensures the development of professional and academic training opportunities that constitute an important competitive asset for the financial center.The Foundation relies on the advice and Guidance of a Board of Directors composed of representatives of the different components of the Lake Geneva’s financial scene: private bankers, universal banks, asset management banks, foreign banks, cantonal banks, independent asset managers, fiduciary companies and lawyers.
Financial Background
The city of Geneva dominates the economy of the canton. It is a center of commerce, trade and finance. A great number of Swiss banks are located in Geneva, particularly in the area of Private banking. The city of Geneva is of international significance also as a financial center. Precision machinery and instruments are other branches where the economy of the canton of Geneva is strong. This is also reflected in the tradition of watchmaking in Geneva. Guest workers are an important part of the Labor Force, making up as much as 30 percent of the city’s population.
Geneva is the capital of the world’s Private banking industry. The dynamism and influence of Geneva as a financial centre is reflected in the density and diversity of the financial institutions present in the city which offers an exceptionally developed financial infrastructure to support Geneva-based corporations in their global activities. Building on its centuries’ old banking expertise, Geneva offers all the services that private, corporate and institutional clients may need covering international law, accountancy, auditing, consultancy, insurance, reinsurance, inspection and Arbitration. Geneva was the birthplace of Private banking and is the heart of the Swiss asset management sector.
Seventy-five banks (including 49 foreign-owned institutions) are headquartered in Geneva while a further 45 international banks have branches here. Industry specialists estimate that approximately 55% of the 3,000 billion CHF in assets managed in Switzerland are directly or indirectly controlled from Geneva. Another criterion is the Volume of Geneva-based fiduciary transactions and assets under management. A recent study shows that, foreign and Swiss banks based in Geneva account for 30% of the overall Volume of fiduciary transactions in Switzerland. Private and institutional assets managed by banks operating in Geneva can be estimated at CHF 1,200 billion. Since Switzerland manages some 35% of global transnational assets, it can be estimated that about 14% of these are managed in Geneva, thus making Geneva the world capital of asset management.Today more than a third of the assets under management are institutional, mainly pension funds. You Will find acknowledged specialists in the most sophisticated banking areas, including Financial engineering, capital markets, Interest-rate and Currency operations.
Geneva’s efforts to ensure that business, finance and industry can rely on trained, multilingual men and women have been Long established.Top skills and qualifications come at relatively High salaries. But every international group in Geneva agrees that the quality of work, the sense of responsibility, Low absenteeism, no strikes and High productivity constitute a High return on the investment.The city authorities Will receive you personally and remain totally available. The city’s government – the Administrative Council – Will make every effort to facilitate the establishment and the development of your business in all areas. They Will help with work and residence permits, arrange the most favourable Tax status and concessions, and seek out office space, industrial facilities or greenfield sites.