NEWS

Private banks in Geneva apparently have a secret rule that their employees shouldn’t be cross-border workers: living in France and working in Switzerland. Even though in the city there are more than 80,000 cross-border workers, the Genevan private banks discourage employees to follow this path. What’s the issue?

Association of Swiss Private Banks and Association of Swiss Asset and Wealth Management Banks claim the new framework deal with EU is vital if Switzerland wants to create wealth. Private banking sector craves also more government support regarding data protection and taxation issues

Swiss President visited China and strengthened bilateral ties between two countries, but not without raising some controversies back in switzerland. Economic and finance matters were the focuses during the state visit.

There are said to be ongoing negotiations for the asset management businesses of UBS and Deutsche Bank to merge in a deal that would create a new leader of the European investment industry. The Swiss giant and German bank are reportedly in serious talks.

The Swiss franc is about to experience the worst month in terms of its exchange rate in almost two years, which will probably serve as some good news to the SNB. Swiss policy makers long have claimed the currency is overvalued.