Initial situation

Zurich is a global financial centre. In addition to the banks and insurances, company-related services with different job profiles characterise the Zurich location.
The financial sector is of crucial importance to the economy of the city of Zurich, because it generates around one third of the Economic Value Added and employs one-fifth of all workers. It is expected that the financial sector will generate up to 75 percent of the taxes from legal entities. However, in view of its importance, its volatility represents a great challenge.
The financial sector currently finds itself in a state of transition due to the international financial crisis. But from the international point of view, the situation in Zurich is relatively good, however; by means of strict framework conditions, the national financial policy ensures that high quality financial services will continue to be provided in Switzerland in the future through an industry that provides a high Economic Value Added.

Strategies

• Together with the Canton of Zurich, the City works to ensure good internal and
  external conditions, so that the financial sector can remain efficient and reliable.
• In its relations with the Federal government, the City promotes a transparent financial sector with a long-term perspective.
• Together with the Canton of Zurich, the City continues to pursue the Cluster Strategy for Financial Services.

Leading projects and initiatives

• Continued projects within the context of the Cluster Strategy for the Financial Sector, including, among others, the Zurich Financial Centre Website and a data monitoring, together with the Canton of Zurich, the Zurich Bank Association and other partners
• Regular exchanges between the City, the financial centre, the Canton of Zurich and the Confederation