Mainstay of zurich’s economy

The Zurich financial centre plays a central role as an employer, as a provider of vocational training, as a contracting entity, as a taxpayer and as a promoter of cultural institutions and events. In the Zurich region, one in every six Swiss francs of value added is generated and one in nine jobs provided by the financial industry. In 2019, the sector generated a gross value added of thirty-one billion Swiss francs.

Nominal gross value added – financial centre Zurich, 2019

In 2019, the banks (CHF 13.2 billion, 42 %) and the insurance companies (CHF 12.8 billion, 41 %) contributed in almost equal parts to the value creation generated by the financial sector. The other financial Services  Providers (e.g. asset managers, hedge funds, money brokers, insurance Brokers) generated 5.2 billion Swiss francs, that is to say 17 percent of the value added of the financial sector.

Roughly one third of the approximately 250 banks in Switzerland have their headquarters in the Zurich region. In 2020, the balance sheet total of the banks in Switzerland exceeded 3400 billion Swiss francs with the major banks accounting for 45 % of that sum.

The insurance sector is also of considerable international significance. The balance sheet total is spread relatively evenly among the large classes of insurance (life, property and reinsurances). In recent years, Zurich has established itself as a European hub for reinsurance companies. The high availability of qualified specialists and Switzerland‘s progressive regulatory measures are decisive factors for this development.

A majority of the workforce employed by other financial services providers worked as insurance brokers or in funds management. No information is available on balance sheet total or assets under management.

The Swiss financial centre can benefit from a solid and reliable financial infrastructure. The Federal Act on Stock Exchanges and Securities Trading stipulates self-regulation for the stock exchanges. The Swiss Financial Market Supervisory Authority (FINMA) has overall supervision and may intervene in self-regulation. The most important stock exchange is the SIX Swiss Exchange domiciled in Zurich. It issues regulations for listed companies and stock market participants. It also monitors stock exchange trading and publishes market information.

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Zurich Financial Centre broschure 2021 / 2022

Facts and Figures Zurich Financial Centre 2021 / 2022
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