Association of Foreign Banks in Switzerland

Association logo

The Association of Foreign Banks in Switzerland was founded in 1972. It includes foreign-controlled banks, branches of foreign banks, foreign-controlled securities dealers as well as fund management companies and agents with foreign main shareholders. On March 31, 2012 the association had 140 members. The office is in Zurich .

Member institutes

Foreign banks in Switzerland are independent banks, organized under Swiss law and subject to Swiss banking supervision, with a foreign main shareholder or a foreign shareholder who exercises a controlling influence. They are either subsidiaries of foreign banks or owned by foreign non-banks or privately owned. Legally, they are on a par with banks with Swiss shareholders. The branches of foreign banks, i.e. legally dependent branches, are also referred to as foreign banks. They are also subject to Swiss banking supervision, but a number of other regulatory requirements apply to them.

At the end of 2011, 145 banks with foreign main shareholders and branches were operating in Switzerland. 140 foreign banks and other foreign-controlled financial institutions were members of the Association of Foreign Banks in Switzerland at that time. The majority of foreign banks are headquartered either in Zurich (67) or Geneva (45). Also Lugano is an important financial center (15), particularly because most foreign banks in Ticino have a settlement.

target

The association is committed to ensuring that foreign institutes and services are on an equal footing with domestic ones. He opposes regulations that hinder market entry for foreign institutes, their services and products. It supports initiatives to strengthen the competitiveness of the Swiss financial center, in particular for safeguarding the privacy of bank customers, for training and further education of employees, for promoting innovative services and for efficient and structurally neutral regulation. The board determines the association's policy. Employees from member banks represent the foreign banks in the bodies and commissions of Switzerland.

activities

The association informs its members about upcoming banking policy reforms and the preparation of regulatory innovations. He publishes AFBS News (general information) and AFBS Info, which provide information on topics from the areas of Legal & Compliance , Funds , Taxes, Financial Market Regulation, Human Resources, Payments and Production & Operations. The association organizes information events and discussions on current topics in advance in Geneva, Lugano and Zurich. A list of the most important events can be found in the chronology of association events. The association's website contains information, graphics, articles, interviews and presentations on the foreign banks, the association and banking policy issues.

Significance for the Swiss financial center

The 145 banks with foreign main shareholders and branches of foreign banks are of great importance for the Swiss financial center: They correspond to 47% of all banking institutions in Switzerland and contribute almost 2% to Swiss GDP . For comparison: the watch industry has a share of 2.2%. 18% of all people working in the Swiss banking sector work for a foreign bank. Most foreign banks are active in asset management for private clients and in the distribution of collective investments. In Geneva, in particular, they are important in trade finance ; In Zurich, the focus is on capital market transactions and corporate financing at a number of institutes. Asset management for institutional clients has also become increasingly important in recent years.

Web links

Individual evidence