Geneva, Switzerland (GenevaLunch) – Ivan Pictet, president of the Geneva Financial Centre, has been actively promoting bank secrecy this week in a number of interviews with Swiss media. In a key interview with Le Temps, published Tuesday 24 February he argues that the loss of banking secrecy would reduce the size of Switzerland’s financial centre by half. It currently represents 6-7% of the country’s GDP, with CHF1,100 billion in foreign wealth under management.
Posted by Ellen Wallace on 24 February 2009 at 10:25, last updated on 15 May 2009 at 15:56 | permalink
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News story, GenevaLunch, 24 February 2009.
Filed under: Business
Tags: Business, Geneva financial centre, Ivan Pictet, Swiss financial centre, UBS
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August 3rd, 2009 at 5:00 am
[...] estimate comes from a leading Swiss Private banker, Ivan Pictet. He suggested in an interview with Le Temps that the size of the offshore ‘private’ banking industry was about $1 trillion and that [...]