Swiss Banks Cut Workforce by 4.1%

Swiss banks face profitability challenges due to negative interest rates, subdued client activity, and the decline of banking secrecy. This has led to job cuts and consolidation in the sector. While foreign banks are withdrawing, local players like Julius Baer are capitalizing on the situation. Swiss banks are expanding internationally, hiring in Asia and Europe to overcome market access restrictions.

In what ways are Swiss banks expanding their operations outside of Switzerland?

What challenges do Swiss banks face when doing business with European clients?