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.
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.
Building Bridges is back with its third edition! The Geneva Financial Center Foundation looks forward to seeing you from October 3 to 6, 2022 at the Centre International de Conférences Geneva (CICG) and online.
The 2022 program aims to harness the power of finance to address some of the most pressing challenges that are affecting both the Global North and South. Internationally renowned experts and out-of-the-box thought leaders will explore innovative financing approaches to tackle climate change, biodiversity loss, gender equity, access to water, and socio-economic well-being, among others.
Don't miss our joint event with Swiss Banking on October 5, 2022, from 9:00 to 10:15 am at the Centre International de Conférence Geneva (CICG)! This is a unique opportunity to know how Switzerland's financial sector aims to reach the carbon neutrality by 2050.
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.
According to the "EY Banking Barometer 2022", Swiss banks have come through the coronavirus pandemic in good shape up to now. Views on future performance in the financial markets and on their own business performance are much more positive than a year ago. The banks surveyed also expect that inflation will be limited and interest rates will stay low in Switzerland. Sustainability remains a key issue for the majority of banks; at the same time, more than half of them are planning new products for investing in cryptocurrencies.
Switzerland is well placed overall, with a slight weakness in comparison with other centres such as the US and the UK, owing to its smaller domestic market size and lower profitability of wealth management providers.
In terms of absolute IMV value, Switzerland is still leading with US$2.6tn booked in 2020, corresponding to a market share of 23.7%. Second and third are the United Kingdom with US$2.1tn and the United States with US$2.0tn of IMV.
The Swiss Bankers Association (SBA) published its biennial study of the image of banks in Switzerland and topical banking issues in May 2021. This survey, conducted by the gfs.bern research institute, provides a unique analysis of public opinion about the banking sector.
It shows that 75% of all Swiss citizens have a positive or highly positive opinion of the Swiss banks. That percentage has never been higher in the past 20 years. What is more, 90% of the persons polled have a favourable opinion of their own reference bank. Qualities of the banking institutions that are mentioned include credibility, dependability and employee competence.
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.