Facts and challenges to the Swiss financial center
Philipp Hildebrand, Member of the Governing Board of the Swiss National Bank
Financial Management Association (FMA), European Conference Zurich, Zurich, 3 June 2004, 03.06.2004
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The financial sector is a critical contributor to the vitality and resilience of the Swiss economy. Defending and maintaining Switzerland’s status of a leading global financial center is a key challenge for the Swiss financial industry and for the country as a whole. An unequivocal commitment to competition and free markets by politicians, regulators and financial sector representatives will foster financial innovation and thus ensure the long-term viability of Switzerland as a leading financial center. The success of Swiss financial firms in securing a dominant position in the global management of pooled hedge fund assets is a recent example of how market driven innovation strengthens the position of Switzerland as a leading global financial center.