The Geneva houses and technology

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Digital transformation is one of the major undertakings facing the Geneva institutions. Clients expect permanent access to their accounts, detailed reports, simulation tools and secure exchanges with their managers. Institutions must modernise their core systems, which are often old, in order to meet these expectations and the regulatory requirements for documentation and reporting.

The great houses have invested heavily in their technology platforms. Some even offer their systems and their custody and administration services to other financial institutions, turning a cost centre into a source of revenue.¹ Smaller institutions turn to external providers, which raises questions of dependence, data security and respect for professional secrecy.

Technology is also changing the manager’s profession. Tools for data analysis, decision support and the automation of certain tasks make it possible to handle more clients and to personalise services more effectively. They do not replace the personal relationship, which remains at the heart of wealth management, but they alter the conditions in which it operates. The development of crypto-assets and digital assets, which Part K will examine, adds a new dimension, with specific requirements for custody and compliance.

Cybersecurity has become a major issue. Institutions hold extremely sensitive information about wealthy clients, which makes them targets for cybercriminals. A data leak can have considerable consequences for the clients and for the reputation of the institution. FINMA’s requirements on the management of IT risks and the obligations under data protection legislation call for continuous investment.

Notes

Article “Banque Lombard Odier”, Wikipédia (fr) (accessed September 2026), which mentions services provided to other financial institutions. ↩

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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The Geneva houses and technology

Notes

Setting up or expanding in Switzerland?