The banking industry is a mainstay of Switzerland's economy providing work for approximately 110,000 people. Switzerland is the world centre for professional portfolio management and with a market share of 35% it is also the world leader in cross border portfolio management.

Switzerland's success in the banking industry is attributed to several factors. To begin with Swiss banks offer customers an exceptionally wide range of financial products and services and no limitations are set on importing or exporting foreign currency. Moreover Switzerland is a highly developed and politically stable country offering customers the professional services they desire. Last not least the famous Swiss bank secrecy law (article 47 of the federal law on banks and savings banks) offers extensive protection to both foreign and domestic investors.

The Swiss banking industry is highly deregulated in comparison with other industrialised countries. In fact the Swiss banking industry is based on the concept of universal banking, whereby all banks can offer any combination of banking services they wish. This is opposed to other countries where banks need to decide whether they want to engage in commercial banking or investment banking activities, as they are not allowed to do both at the same time.