Facts and figures
The activity of asset management was first practised in Geneva, where more than 130 banking firms (of which 60 are foreign-owned), 3'200 financial intermediaries and 850 independent asset managers offer their expertise.
Some 36'200 people are directly employed by the Geneva financial sector.
The Geneva financial Place is considered to be the most important in the world with regard to private transnational asset management. Institutional asset management in Geneva is also steadily growing, according to specialists in the sector, 10% of the transnational private savings would be managed in Geneva.
The financial sector – traditionally the Canton's largest taxpayer – is overtaken in this role since 2009 by a sectoral grouping that includes education, health care, public and para-public services. Finance is therefore the Canton's second largest business sector and contributes to 17.5% of Geneva's GDP in 2011 (insurance and intergovernmental organizations not included).
In 2011, Geneva's economy has achieved a modest GDP growth, that is 2.5%, bringing it up to CHF 44.4 billion (including intergovernmental organizations - IGOs; GDP before taxes less subsidies).
Source: Institut Créa, Lausanne
Geneva : world leader in commodity trade finance
- Over 400 trading companies
- 8’000 direct employees
- 1/3 of the exported oil and derivatives is handled through Geneva traders
- In the top worldwide rank in grains and oil seeds transactions
- In the top European rank in sugar transactions
- In the top European rank in cotton transactions (equal first with London),
- 22 % of products shipping movements
- In the top worldwide rank in inspection and certification
- In the top worldwide rank in the finance of commodity trading
Geneva is also recognized as one of the most important centers for the financing of commodities trading. Due to the banking expertise offered by Geneva establishments and the presence of numerous trading companies, Geneva is a main hub for oil, sugar, cereals and non-ferrous metals trading.
‘Today Geneva is the center of the commodities-trading universe’, Fortune Magazine – November 2011
Website of the Geneva Trading & Shipping Association: www.gtsa.ch
Last update: January 2013