Mid-sized traders: the diversity of the centre

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Behind the giants, the mid-sized traders form the fabric of the Geneva centre. They employ from a few dozen to a few hundred people, handle substantial volumes in one or more commodities, and stand out for their specialisation, their agility and their knowledge of niches. Some have emerged from the large houses, whose executives have founded their own companies. Others are subsidiaries of industrial groups, and others still are long-established family houses.

These traders are the most exposed to developments in the sector. The contraction of bank financing after 2020 hit them harder than the large houses, which are able to obtain syndicated loans. The costs of compliance and sanctions weigh proportionally more heavily on them. The competition from Dubai, whose taxation and regulation are lighter, is particularly attractive to them.

Their presence nonetheless accounts for the diversity and resilience of the centre. They serve markets, regions and clients that the giants neglect and form a pool of entrepreneurs and skills. The gradual disappearance of this intermediate fabric, in favour of a concentration on a few large houses, would impoverish Geneva in a way comparable to what banking consolidation threatens for wealth management, as described in Part E.

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.

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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.

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