TOP SWISSFINANCIALINSTITUTIONS OF2016

ETIENNE KISS-BORLASE

Financial crisis has triggered a wave of new regulations inSwitzerland in the recent past. Besides stability for the overalleconomic system and customer protection, the ongoing reforms area reaction to harmonize Swiss regulations with existing and futureEU regulations and international restrictions. These changes in theregulatory framework have been coupled with a variety of legaldevelopments, especially in international tax matters.

Banks in the Switzerland are facing a lot of pressure due to theselegal and regulatory developments. These amendments have led toincreased reporting burdens. Tough international capital andliquidity regulations have led to increased costs of a bank’s capitalas well as long-term funding.

The following are the top Swiss Financial institutions:

CIMBank

CIM Bank is a private bank founded inGeneva in 1990. The bank serves privatecustomers, institutions, and corporationsaround the world. Located in Geneva,Wollerau, CIM Bank has over 103 employeesand controls Primorska Banka. The bank isengaged in asset management, onlinetrading, investment banking, and wealthmanagement. It is regulated by FINMA andalso a member of the SIX Swiss exchangeand Swiss Bankers Association.

Accounts

-Current accounts-Deposits accounts-Professional accounts

VontobelBank

Vontobel is a privately owned Swiss bankheadquartered in Zurich. It was establishedin 1936 with over 1400 employees globally.Vontobel Bank specializes in assetmanagement for institutional investors andprivate customers, wealth management, andinvestment banking. Vontobel, with over 20international branches, registered aroundCHF 187 billion of client assets as of 31December 2015.

MigrosBank

Migros Bank was founded in 1958 with over67 branches in Switzerland. The bank wasfounded by Gottlieb Duttweiler. The bankregistered a balance sheet of CHF 42 billionand an income of CHF 226 million in the lastfinancial year.

WIRBank

The WIR Bank, which was formerly knownas the Swiss economic Circle, is anindependent complementary currencysystem serving businesses in manufacturing,construction, hospitality, professional, andretail services. WIR bank manages a privatecurrency termed as the WIR Franc. Theprivate currency is used in combination withthe Swiss Franc to produce dual-currencytransactions. However, the WIR Franc is anelectronic currency in clients’ accounts,therefore, no paper money.

AlternativeBankSchweiz

Alternative Bank Schweiz, abbreviatedABS, is a sustainability-oriented financialinstitution headquartered in Olten,Switzerland. It was founded in 1990 by anumber of organizations, various charities,and unions, for instance, World Wide Fundfor Nature.

UnionBancairePrivee

Union Bancaire Privee was founded in 1969by Edgar de Picciotto. The bank is one ofthe highly capitalized private banks inSwitzerland with CHF 113.5 billion assets.

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