Switzerland and its Financial Center
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 2005, 337 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.Source: Private Banking, http://www.privatebanking.com
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