Facts and figures
The activity of asset management was first practised in Geneva, where almost 140 banking firms (of which 60 are foreign-owned), 3'000 financial intermediaries and 800 independent asset managers offer their expertise.
Some 35'000 people are directly employed by the Geneva financial sector.
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The Geneva financial Place is considered to be the most important in the world with regard to private transnational asset management. Institutional asset management in Geneva is also steadily growing, according to specialists in the sector, 10% of the transnational private savings would be managed in Geneva.
Cantonal GDP
The financial sector – traditionally the Canton's largest taxpayer – is overtaken in this role since 2009 by a sectoral grouping that includes education, health care, public and para-public services.
Finance is therefore the Canton's second largest business sector and contributes almost to 19% of Geneva's GDP (insurance and intergovernmental organizations not included).
In 2010, Geneva's economy has achieved a modest GDP growth, that is 3%, bringing it up to CHF 43.6 billion (including intergovernmental organizations - IGOs).
Source: Institut Créa, Lausanne
Geneva : world leader in commodity trade finance
- Over 400 trading companies
- 8’000 jobs
- 1/3 of the exported oil is handled through Geneva traders
- In the top worldwide rank in sugar (equal first with London), grains and vegetable oil transactions
- In the top European rank in cotton transactions
- 22 % of dry products (iron ore, coal, grains, ...) shipping movements
- 10% of world steel exports are initiated by Geneva traders
Geneva is also recognized as one of the most important centers for the financing of commodities trading. Due to the banking expertise offered by Geneva establishments and the presence of numerous trading companies, Geneva is a main hub for oil, sugar, cereals and non-ferrous metals trading.
Website Geneva Trading & Shipping Association
Last update: January 2012