Swiss Finance: Capital Markets, Banking, and the Swiss Value Chain
Praise for Swiss Finance
"An outstanding presentation of the political, legal, and economic constituents that have contributed to Switzerland's prominent position in international financial markets."
—Prof. Peter Gomez, Chairman, SIX Group; former president, University of St. Gallen, Switzerland
"An excellent portrayal of Switzerland's role in the international financial market landscape. The Swiss finance market has been built up over a long period to satisfy the needs of investors around the world and is based on trustworthy institutions and the country's stability."
—Karl Reichmuth, Chairman of the Board of Directors, Privatbankiers Reichmuth & Co., Switzerland
"Swiss Finance explains why Switzerland has become the world's leading wealth administrator, showing the strong interplay among political stability, safety, rule of law, and direct democracy. One can only imagine how much better off the global economy would be today if Switzerland's capital markets were the 'norm' rather than the 'exception'!"
—Jay Flaherty, Chairman and CEO, HCP, Inc.; former managing director, Merrill Lynch
"Swiss Finance is an outstanding guide to the strengths and weaknesses of the Swiss financial value chain. One of the major challenges here and throughout continental Europe is the lack of risk capital for young innovative firms. With great expertise and passion, this book calls for joint efforts of politics and finance to create new chances for innovation and economic growth in global competition. A must-read!"
—Prof. Heinz Riesenhuber, former Federal Minister of Research, Germany; Member of German Parliament
"Swiss Finance derives its strengths from its limitations. Because Switzerland had a small internal market, its companies had to globalize before others, hence the strengths of the Roches and the Nestlés of Switzerland. Because the immediate users of the Swiss financial markets were scarce, Switzerland had to offer to all legitimate companies a market where efficiency, transparency, and predictability would be the hallmarks. Swiss Finance is the seminal treatise on the Swiss financial markets, which have transcended their domestic nature to be not only the model but also the beacon of corporate finance done the right way."
—François Maisonrouge, Managing Director, Evercore; former managing director of investment banking, Credit Suisse
"Swiss Finance provides a comprehensive, thoughtful, and thought-provoking assessment of Switzerland's role in global finance. It strikes a smart balance between Swiss self-confidence and pride grounded in stellar achievements as well as humility and respect in light of past failures and serious challenges ahead."
—Dr. Peter Wuffli, Chairman, IMD; former CEO, UBS Group
"This book provides a superb overview of the history and challenges of the Swiss financial system, its political and institutional foundations, and the reasons for its continuing success."
—Mark Tracey, Partner, Arkle Associates; former partner, Goldman Sachs