Conclusion to Part D

Read the PDF edition (1 page)

Between 1815 and 1945 the Geneva financial centre took on its modern form. The houses founded in 1796, 1805 and 1819 became the pillars of a private banking sector specialising in wealth management, organised as partnerships and attached to prudence, discretion and the long term. The radicalism of James Fazy opened the financial centre to joint-stock banks, the stock exchange of 1857 and monetary unification integrated it into the modern markets, and the National Bank gave the Swiss franc the solidity that would become one of its major assets.

The inter-war period made Switzerland a refuge for European capital, often withdrawn from the tax authorities of its home countries, and the Act of 1934 placed banking secrecy under the protection of the criminal law, without any parliamentary debate. The Second World War left a legacy that the financial centre confronted only half a century later, under the pressure of the dormant assets affair and thanks to the work of the Bergier Commission.

Part E traces the history of Geneva private banking since 1945: the inflow of post-war capital, the transformation of the houses, the end of bank client secrecy towards foreign tax authorities, the new regulatory framework, taxation and estate planning, the contemporary business model and the ecosystem of wealth managers and family offices.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

English

Contact

Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

Get in touch →

Articles and Insights

Setting up or expanding in Switzerland?

Helvetica Register is an information portal. It explains what companies and entrepreneurs from around the world, and in particular from Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, need to know about doing business in Switzerland: company law, commercial contracts, licences, banking, tax and residence.

Legal advice in Switzerland is provided by Ressos Legal, a Zurich law practice advising on all areas of Swiss law under the direction of Dr Alexander Ressos. Further information is available at www.ressos.ch.

Your project in Switzerland Speak to Dr Alexander Ressos Company formation, shareholder and commercial agreements, acquisitions, licences, bank accounts, tax and residence permits: I advise on Swiss law and coordinate with your lawyers in your home country, as well as local counsel in other jurisdictions as required.