Handbook for Investors. Business location in Switzerland.

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HR Swiss – Swiss Association for Human Resources Management www.sgp.ch Languages: German, English, French, Italian swissstaffing www.vpds.com Languages: German, French 80 Handbook for Investors 2010
9. Financial center and capital market. Accounting for 12 % of GDP and employing around 200,000 staff, the Swiss financial sector is of key economic importance. The main areas of expertise are private banking, asset management and insurance. Switzerland’s long tradition of economic and financial stability is reflected in low inflation, low interest rates and the significant international role that the Swiss franc plays, particularly in asset management and issue underwriting business. 9.1 Banks. 9.1.1 Structure and general conditions In Switzerland there are some 340 banks, 260 insurance companies and 2,700 pension funds. Apart from the two major global banks, UBS and Credit Suisse Group, which together hold over 50 % of total assets, the cantonal, regional and savings banks also play an important role. Fig. 42: Global financial centers, 2009 Ranking Financial center 1 London 2 New York 3 Singapore 4 Hong Kong SAR 5 Zurich 6 Geneva 7 Chicago 8 Frankfurt 9 Boston 10 Dublin Source: The Global Financial Centres Index 5, City of London, www.cityoflondon.gov.uk/GFCI In addition, there are many smaller financial institutions and private banks, some of which offer highly specialized services such as commodity trade finance. The group of 24 cantonal banks, which are either entirely or partially under state ownership and which offer a government guarantee, have a domestic market share of about a third. Their share of total assets for all banks domiciled in Switzerland was approximately 13 % in 2004. Another 150 foreign financial institutions, mainly from the rest of Europe (110 institutions) and North America (19 institutions), can be added to this number, making around 44 % of all banks in Switzerland. 85 % of these are active in private banking. In 2007, Swiss banks managed over CHF 4,900 billion in assets, of which nearly 60 % came from foreign countries. Switzerland is a center for professional asset management for private clients and institutional investors. With a market share of 27 % in 2009, it is the world leader in cross-border asset management business. Handbook for Investors 2010 81
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Handbook for Investors. Business lo
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Welcome. Dear Reader, By choosing t
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Table of contents. Advantages offer
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10.3.4 Cross-border commuters .....
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9. Excellent educational institutio
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1.2 Climate. Switzerland’s climat
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1.7.2 Direct investments and Swiss
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1.8 Switzerland in figures. Fig. 7:
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Fig. 9: Industry structure, percent
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2.2.2 Direct investments In additio
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Dachorganisation Informatik- und Te
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3. Economic framework. Free competi
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R&D project grants are available in
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20 TechnoArk, Sierre www.technoark.
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Switzerland. Trade & Investment Pro
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15.2 Table of figures. Fig. 1: Swit
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Countries of Europe. Handbook for I
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Language regions. Handbook for Inve
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