What the international vocation brought to the financial centre

The building of International Geneva changed the financial centre in several ways.

It first strengthened its image. A city that houses the Red Cross, the United Nations and dozens of international organisations embodies neutrality, impartiality and the rule of law. That image reflects on its banks, in the eyes of a clientele that seeks precisely those qualities. Part A recalled that legal certainty and neutrality were already, in the Middle Ages, the arguments of a trading centre.

It then widened its networks. The diplomats, international civil servants, experts and leaders of non-governmental organisations who stay in or settle in Geneva form a worldwide web of relationships, which the financial centre has been able to turn to account in developing its clientele and its business, particularly in emerging countries.

It also created expertise. The international institutions, the Graduate Institute of International and Development Studies, the University and the many research centres have trained generations of specialists in international law, development economics, health, trade and human rights. This expertise feeds the financial centre, particularly in the fields of compliance, sanctions, sustainable finance and philanthropy.

It finally generated business. The international organisations, their officials and the permanent missions need banking services, wealth management, credit and advice. Foundations and non-governmental organisations manage assets and receive donations. Trade negotiations and conferences bring together economic actors who do business in Geneva.

This relationship between International Geneva and finance is not free of tension. International organisations and non-governmental organisations are often critical of finance, of tax evasion, of commodity trading and of capital flight from developing countries. Reports and campaigns launched from Geneva have targeted the Geneva financial centre itself. This coexistence of a capital of international cooperation with a financial centre under criticism is one of the city’s paradoxes, which the following chapters will examine.

Worked example. An international organisation established in Geneva employs 2,000 officials whose average annual salaries amount to CHF 150,000. Its payroll reaches CHF 300 million, a large part of which is spent in the region on housing, consumption and services. If one third of the officials entrust their savings to Geneva banks, at an average of CHF 200,000 each, the financial centre manages CHF 133 million in assets from this one organisation alone. The figures are fictitious, but they illustrate the link between the presence of the organisations and the local economy, including its financial side.

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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What the international vocation brought to the financial centre

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