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Lecture

Swiss Banking History: Golden Age to Globalization

In courses (2)

HUM-422: Understanding modern Switzerland I

This course provides a general introduction to Swiss history, its culture, its economy and its political system since 1848 until today. ...

HUM-465: Understanding modern Switzerland II

Based on the knowledge acquired during the fall semester course (Understanding modern Switzerland I), students are asked to work by group of 3-4 students and prepare a paper on a topic previously discussed with the teachers. ...

Description

This lecture covers the evolution of Swiss banking from the 'Golden Age' (1945-1973) to the era of globalization. It discusses the factors that made Swiss banks attractive post-WWII, including bank secrecy laws. The lecture also explores the internationalization of Swiss banks, the emergence of an international banking elite, and the transformation of the banking sector due to deregulation. It concludes by highlighting Switzerland's position as a major financial center with a strong focus on wealth management.

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Related concepts (15)

Investment banking

Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities.

Bank

A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Whereby banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities.

Sovereign wealth fund

A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank.

Global financial system

The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic action that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets.

Globalization

Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term globalization first appeared in the early 20th century (supplanting an earlier French term mondialization), developed its current meaning some time in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the post-Cold War world.

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