Switzerland as a financial center of the future
30 April 2024

Switzerland has long been an important player in the world of finance. But how can it ensure it remains relevant in the future while promoting ethical and sustainable practices? This question is particularly relevant given the dynamics of global financial markets and the increasing importance of ESG (environmental, social and governance) criteria for investors and financial institutions. This and similar topics were discussed again this year at the Financial Fair 24 in Zurich. Former Federal Councilor Ueli Maurer was also there and took part in a Fireplace Talk about food for thought for a sustainable Swiss financial center. We would like to summarize and explain the most important topics of the trade fair to you here.

Maintaining stability:
One of the outstanding characteristics of the Swiss financial center is its stability and reliability. On the one hand, this is based on Switzerland’s political stability. But Switzerland’s economic diversification as well as legal security and reliability ensure that Switzerland will continue to be a safe and trustworthy financial center in the future.

Promoting innovation and technology:
Switzerland is one of the most innovative countries in the world and is considered a leading innovation center in the field of financial technology (Fintech). Close collaboration between financial institutions, technology companies and regulators has helped Switzerland develop and launch new financial services and products that meet customers’ needs. This will continue to be of central importance in the future.

Sustainability and responsible investing:
The promotion of ESG criteria should become a central concern of the Swiss financial center. Investors and customers are increasingly demanding ethical and sustainable investment options. Maurer emphasized that the goal must be to expand competitiveness with sustainable finance, thereby creating new jobs and making a significant contribution to achieving sustainability and climate goals.

International cooperation:
In an increasingly globalized world, collaboration with other financial centers is crucial. Switzerland should actively participate in international initiatives to combat financial crime, prevent tax evasion and promote transparent financial practices. According to Maurer, the partnership with the European Union plays a particularly important role here.

In summary, Switzerland remains one of the leading financial centers in the world. Switzerland’s long-standing reputation for stability and reliability, its innovative strength in the field of financial technology, as well as its excellent international networking and access to markets enable it to strengthen and further expand its position as a global financial hub.