Swiss banking: past and present: Swiss News looks at Swiss private banking, a 500-year-old industry that endured centuries of change, and how it is dealing with new global dynamics.(Money)

From: Swiss News | Date: April 1, 2005| Author: | Copyright information

Swiss private banking marked its first major milestone in the Eighteenth Century when Louis XVI appointed a private banker from Geneva, Jacques Necker, as France's director of State Finances. Equally important, was a widespread perception that Switzerland is a safe place to put money. In the nineteenth century, its political neutrality was declared. The forbidding alpine terrain was seen as discouraging invasion.

Banking on Service

Having said that, Swiss bankers' genius lay in their ability to change with the times and provide the world's elite with funds and services ...

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