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Appointment of New President
Denis Pittet as President of the Geneva Financial Center from December 1, 2022.
Press Conference – October 2022

The financial sector is a pillar of the Geneva economy, providing 37,900 high-value jobs and accounting for a significant portion of the canton's GDP (12.4%). Its banks and financial institutions remain strong and resilient in the face of geopolitical, energy and fiscal uncertainty. After a record year in 2021, the mood in 2022 is one of cautious optimism, due to financial market volatility. In this difficult environment, the financial centre is finding opportunities for growth in sustainable finance.

A living fondation !

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The Geneva financial center

Key figures

37900
Financial and related professional services employment in Geneva
12.4%
Contribution of the financial sector and the commodity trading as a share of Geneva State GDP
87
banks

Talents, competitiveness and innovation

Discover the assets of the Geneva financial center in 45 seconds!

Today Geneva is universally recognized as a global financial center. Its reputation depends on the expertise and skills of the 35,600 people working in finance and banking. Innovation is another key success factor. The Geneva financial center is exploring many promising avenues to pioneer the finance of the future, including FinTech, sustainable finance and philanthropy.

Geneva Financial Center

Double digit growth in sustainability investing

According to the fifth Swiss Sustainable Investment Market Study, prepared by Swiss Sustainable Finance (SSF), the market for sustainable investments (SI) in Switzerland continued its growth story in 2021: SI volumes increased by 30 % to CHF 1,982.7
billion. These outcomes again underline the progressive mainstreaming of sustainable investments in Switzerland.

Geneva Financial Center

EY Banking Barometer 2022

The "EY Banking Barometer 2023" conducted by Ernst & Young underlines that Swiss banks show resilience despite a turbulent fiscal year 2022 and are now at a turning point: "Due to the turnaround in interest rates, banks expect higher margins in the longer term and are therefore optimistic about the future". According to the 100 banks polled for this study, the war in Ukraine, high energy prices, problems with supply chains, the rise in inflation and the accompanying interest rate hikes have kept them very busy in 2022. In view of the uncertain situation, the focus in 2023 is on cost efficiency, talent management and sustainability.

 

Geneva Financial Center

3rd Edition of the Global Financial Regulation, Transparency, and Compliance Index (GFRTCI)

Is Switzerland Still in the Top Tier?

On April 27, 2022, the Fondation Genève Place Financière and the Swiss Finance Institute presented the results of 2022 GFRTCI at the FER-Genève.

The Global Financial Regulation, Transparency, and Compliance Index (GFRTCI), designed as a "meta-index", scores and ranks countries according to their degree of adoption of, compliance with, and enforcement of a set of relevant international standards. The strength of the index lies in its simplicity and transparency.

The updated 2022 SFI Public Discussion Note on the GFRTCI shows clear shifts in the country rankings, the EU having caught up with regard to its implementation of the Basel III framework. Switzerland remains in the top tier.

Geneva Financial Center

A Unique Chain of Expertise

Created in 1991 by the 80 banks that were members of the Geneva stock exchange, the Geneva Financial Center (GFC) is the umbrella association of the financial sector. The financial sector generates 35,600 jobs and accounts for 12% of Geneva's GDP. It is based on three main pillars: private and institutional wealth management, commodity trade financing, and commercial and retail banking. With the presence of activities such as marine freight and inspection, Geneva has emerged as an economic cluster with a unique concentration of skills. The central mission of the Geneva Financial Center is to support this value chain and to contribute to the development of  an optimal business environment for all financial center partners.

Geneva Financial Center