Banking in Switzerland

Oliver Landmann Nobody needs to be convinced of the importance of banking for the Swiss economy. The financial sector grew well above average in the past decade and now accounts for almost 10 % of GDP. Compared to the economy-wide average, it creates more than double as much value added per employee and it is a major contributor to Swiss ex­ port revenues. But this is no cause for complacency. The industry is subjf:ct to rapid change as the competitive climate has become rougher nationally ...