Building Bridges 2023 took place on October 2-5 at the CICG in Geneva and hosted transformative discussions that will shape the global sustainable finance agenda. Watch the recording of this ground-breaking conference to accelerate the transition of our economic model and connect with 2000+ actors from the finance industry, the corporate sector, the sustainable development community, and young entrepreneurs.
In the latest edition of the Boston Consulting Group's (BCG) Global Wealth Report, published at the end of June, Switzerland continues to top the list of financial centres ranked according to the volume of cross-border assets.
With USD 2,400 billion in foreign-owned assets managed in Switzerland, Switzerland is ahead of Hong Kong (USD 2,200 billion) and Singapore (USD 1,500 billion).
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.
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.
