The key point: According to the Geneva Financial Centre Foundation, geopolitical tensions have drawn large capital inflows to Geneva banks and asset managers, notably from the Middle East.
The trend
- Assets under management: up 3% to 14% in the first half, depending on the firm.
- Net inflows: up to 5% for most, up to 10% for some.
The concerns
- UBS: a move out of Switzerland would be bad news for the country.
- Finma: the Foundation warns against excessive regulatory power.
Key figures
- Swiss financial centre: over 10,000 billion francs in assets, a record according to Swiss Banking.
In short
Geneva benefits from its safe-haven role. The financial centre fears, however, UBS leaving and an overly powerful regulator.
