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The Geneva financial centerThe Geneva financial center

Mr Ivan PICTETMr Ivan PICTETChairman, Geneva Financial CenterChairman, Geneva Financial CenterSenior Partner, Pictet & CieSenior Partner, Pictet & Cie

Geneva, September 29, 2008Geneva, September 29, 2008Regional Cooperation ForumRegional Cooperation Forum

www.geneva-finance.ch 2

The Geneva financial center

Number of firms Number of jobs

Banks 142 19’341

Independent asset managers 637 1’726

Financial intermediaries 2’600 4’595

Insurance companies 660 3’048

Fiduciaries 1’096 3’332

Lawyers, notaries 356 2’668

Total 5’491 34’710

Source: Geneva’s Répertoire des Entreprises - September 2006 / GFCResearch and infography: Geneva Financial Center – September 2008

www.geneva-finance.ch 3

Classification of banks in Geneva

Number of

banks

Swiss headquarters

in Geneva

Employees

Cantonal bank 1 1 765

Big banks 2 0 3’505

Raiffeisen banks 6 0 117

Commercial banks 4 1 113

Commercial and investment banks 21 13 2’844

Foreign-controlled banks 65 40 7’913

Branches of foreign banks 11 7 635

Private bankers 10 6 3’378

Representations of foreign banks 21 0 55

Swiss National Bank 1 0 16

142 68 19’341

Source: SNB / DSE / SFBC / GFCResearch and infography: Geneva Financial Center – September 2008

www.geneva-finance.ch 4

Top 10 Financial Centres

1. London

2. New York

3. Singapore

4. Hong Kong

5. Zurich

6. Geneva

7. Tokyo

8. Chicago

9. Frankfurt

10. Sydney

Source: The Global Financial Centres Index 4, City of London – Sep 2008 Research and infography: Geneva Financial Center – Sep 2008

www.geneva-finance.ch 5

Geneva : first in class

10 % of the global transnational private savings

No 1 for in Commodity trade finance

www.geneva-finance.ch 6

Geneva : world leader in commodities trading and finance

500 trading companies (Litasco-Lukoil, Solvalub, Centramed): CHF 500 bn turnover

Banks with exclusive experience : over CHF 1’000 bn of transactions financed

2/3 of the oil in the free market

75 % of Russian oil exports

22 % of shipping movements in commodities

All commodities covered (oil products, grains, sugar, coffee, metals and non-ferrous)

75 % of the rice in the free market

6’000 jobs

Top quality-control companies, law firms, fiduciaries

Long tradition of quality and competences

Business-friendly legislative and fiscal environment

Sources: Why Geneva, Geneva Economic Development Office - Credit Suisse - GFCTrading & Shipping in Geneva – 2007 Survey, GTSAResearch and infography: Geneva Financial Center – September 2008

www.geneva-finance.ch 7

Swiss financial center – Key figures

200’000 jobs in finance (110’000 in banks)

5 % of the country workforce (3 % for banks)

14 % of Swiss GDP (9 % for the banking sector)

CHF 15 bn of contribution to public finances

Sources: Compendium Edition 2006, The Swiss Banking Sector, SBA Switzerland and its Financial Center, SBA – February 2006

www.geneva-finance.ch 8

Channel islands (2)

14.4%

Hong Kong4.0%

Singapore4.8% Others (1)

5.8%

Switzerland27.1%

Carribean12.9%

New York & Miami7.9%

Luxembourg13.4%

London9.7%

Largest financial centers for transnational private savings - US$ 6’720 billion (figures 2006)

(1) : Incl. Liechtenstein, Andorra, Monaco, Dubai/Bahrain and Taiwan(2) : Incl. Isle of Man and Dublin

Source: Boston Consulting Group 2007 - Global Market Sizing DatabaseInfography: Geneva Financial Center – March 2008

www.geneva-finance.ch 9

Breakdown of clients’ assets managed by banks in Switzerland (figures June 2008)

Swiss private customers

10.9%Swiss commercial

customers4.9%

Swiss Public sector0.8%

Swiss institutionals investors

25.1%

Foreign private customers

19.0%

Foreign commercial customers

3.7%

Foreign institutionals investors

35.7%

Source: Monthly Statistical Bulletin, Swiss National Bank – August 2008Infography: Geneva Financial Center – Septembre 2008

Total: CHF 4’716 billions

www.geneva-finance.ch 10

The competitive advantages of the Geneva and Swiss banking sector

Political and macroeconomic stability

Globally integrated and open financial sector

High standard of government supervision and regulation

Excellent reputation of the Swiss financial centre

Strong protection of the customer privacy

Highly educated, multilingual and multicultural workforce

Determined focus on on-the-job training of the personnel (numerous universities and courses on finance)

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Geneva : attractive for expatriates

a successful international city (over 180 nationalities present)

tradition of respect for privacy

religious and ethnic tolerance

diversified and attractive schooling options

diversified cultural and social life

low crime rate against persons

superb medical and hospital infrastructures

airport close to city-center (dense European network)

population open to new trends

numerous city parks and a relaxing countryside

charm of the Old Town, the lake area, and the nearby mountains

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The Geneva financial center is a strong and integral part of the Swiss financial scene.

It has built its unique experience over centuries,

constantly adapting to the ever-changing needs of a worldwide clientele.