zurich cantonal bank
the average salary of zurich cantonal bank employees is $ 128, 000 per year .
the highest paid zurich cantonal bank employees are managers at $ 107, 000 annually .
most zurich cantonal bank employees using emolument work in switzerland for an average salary of $ 128, 000 .
three employees of the cantonal bank of zurich have been charged in new york city with helping us clients evade taxes, according to the bank and ...
two bankers from zurich’s cantonal bank have pleaded not guilty in a new york court after leaving switzerland to voluntarily face charges of ...
the zurich cantonal bank (zkb) has reached an amicable agreement with the judicial authorities in cologne in connection with untaxed assets of its german customers .
the report said the campaign for the cantonal bank of zurich was designed by swiss designer nadine geissbülher, and was launched on july 4, 2013 .
' make in india' logos comprises a lion with industrial wheels, while a similar picture has been noticed in the advertisement campaign of cantonal bank of zurich .
full page illustration i did for the latest issue of zurich cantonal bank' s magazine
meine vorsorge
. the illustration accompanies an article focusing on different ...
zürcher kantonalbank & sustainability / csr zurich cantonal bank sees sustainable development as one way of enhancing corporate value in the long term. in this respect, responsibility for sustainability is an integral part of corporate policy and a major driver in decision making. its public mandate requires zurich cantonal bank to support cantonal and local business enterprises, the local population, its clients, its staff and the environment. since 2002 the bank’s environmental management system is certified according to iso 14001. a sustainability committee with representatives from ngos, local business and academia advises the bank on sustainability issues. the bank offers a wide range of environmental and sustainability financial products .
switzerland’s largest cantonal bank is confident it already has a big enough risk - absorbing capital buffer to match tougher regulatory demands ...
zkipster, a tech startup that offers cloud solutions to streamline check - in process at private events, today announced it closed a new financing round with zurich cantonal bank (zkb) to fund its expansion .
the historic zurich gold pool was a consortium gold trading arrangement between union bank of switzerland, swiss bank corporation and credit suisse which was active in the late 1960s / 1970s .
london (marketwatch) - - gold holdings in the exchange - traded fund of zurich cantonal bank, or zkb, edged 0. 5% higher in the week to dec. 16, according to zkb data wednesday .
several cantonal banks having the market shares and ranks closest to zürcher kantonalbank are shown below .
in 2001, zurich cantonal bank was the first provider of financial services in switzerland to publish an integrated environmental, social and financial report in the form of an annual report. thus, our annual report also serves as a sustainability report and gives a clear and comprehensive insight into our bank .
london, 21 june 2010 – holdings in the gold and silver exchange - traded fund (etf) managed by zurich cantonal bank grew modestly in the week to june 18, while platinum and palladium investment remained stagnant, data showed on monday .
etfs physical swiss gold (sgbs). vaulted in zurich, switzerland (7 tonnes), custodian jp morgan london, sub - custodian is ubs ag zurich [ 37 ]
the snb’s announcement on monday increases the pressure on the zurich cantonal authorities to stump up the extra cash. without it, the bank would have to consider retaining earnings and paying less generous dividends to the canton and the municipalities that own it, blum warned .
bank julius baer, a private bank headquartered in zurich, is an ordinary member of the lbma and is active in trading precious metals on a spot and derivative basis [ 10 ]. julius baer, through bank julius bär & co, bahnhofstrasse, zurich, is the custodian of the julius baer physical gold fund, which holds nearly 50 tonnes of gold [ 11 ] .
in 2016 zürcher kantonalbank was ranked the 1st largest cantonal bank in switzerland in terms of total assets, having 28. 26% of the category' s market share .
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zkb is among a handful of swiss or swiss - based financial institutions that are enduring a full blown probe by the department of justice on this issue. the cantonal bank of basel is the other swiss state - owned bank on this list .
zürcher kantonalbank (zkb), a swiss universal bank and switzerland’s largest cantonal bank, is headquartered in zurich and is owned by the canton of zurich. zkb is active in the swiss gold market and gold can be purchased in any of zkb’s branches. zkb is also an ordinary member of the lbma and runs a physical gold etf called the zkb gold etf [ 8 ]. zürcher kantolbank (zkb) maintains a precious metals vault under its premises on bahnhofstrasse in zurich that in 2009 was reported to be storing approximately 40 tonnes of gold .
in return for dropping charges, switzerland’s largest cantonal bank will make a one - time payment of €5. 7 million euros (chf6. 1 million). the agreement is applicable to all 16 german states and includes the bank’s employees as well .
do you know of any bank or investment company or stock exchange in the u. s. a. that sells silver & gold etf’s from the cantonalbank in zurich, switzerland ?
where in the u. s. can i buy gold & silver eft’s from the cantonalbank in zurich switzerland ?
founded in 1870, zürcher kantonalbank is a universal bank, providing retail and corporate banking products mainly to the canton residents (natural persons and legal entities). traditionally for cantonal banks, zürcher kantonalbank is especially strong in savings and mortgage products. like most of the cantonal banks, zürcher kantonalbank has full state guarantee of its liabilities .
switzerland’s largest cantonal bank is confident it already has a big enough risk - absorbing capital buffer to match tougher regulatory demands after being named alongside ubs and credit suisse as a “too big to fail” financial institution .
the snb’s headquarters building in berne is on the bundesplatz square, and the gold vaults are said to be under this building and stretching out under the square. the snb has two headquarters, one in berne and the other in zurich at börsenstrasse, and some media reports have said that some of the snb gold is stored at its zurich headquarters under paradeplatz or bürkliplatz, or else in commercial bank vaults under the famous zurich banking street of bahnhofstrasse [ 26 ]. all of these locations in zurich are adjacent to the snb headquarters .
but this still leaves the zurich canton - owned bank with precious little room for manoeuvre if it wants to invest in new it or make future acquisitions, vice - chairman janos blum told swissinfo. ch .
at least two state - backed cantonal banks feature among the group of swiss institutions in the crosshairs of the us justice department for ...
another german wholesaler / retailer, degussa, has 2 branches in switzerland, in zurich (degussa goldhandel ag), and in geneva .
the securities settlement of the purchase of the zkb silver etf through the foreign exchange market zurich at reasonable conditions (comdirect securities account) .
in 2013, the swiss national bank declared the zkb as a “too big to fail” institution .
company profile zürcher kantonalbank (zkb) is the leading universal bank in the zurich region, geared to the domestic market and with an international relationship network. with total assets of chf 76 billion, it is the largest of the cantonal banks and the third largest bank in switzerland. building on its extensive expertise in mortgage and credit business, it has developed very successfully into an investment and retirement - savings bank since 1995. zkb is today one of the largest asset managers in switzerland, with client assets of chf 130 billion. as an independent institution incorporated under public law in the canton of zurich, its activities are protected by government guarantee. standard & poor’s gives its bonds and medium - term notes a top rating of aaa .
zkb and other cantonal banks are already under some public and political pressure for enjoying state financing whilst competing with privately - owned banks. but the bank was adamant that its taxpayer - backed guarantee would not be affected by its new “too big to fail” status .
let´s stay with the example of silver: silver, which is e. g. yours being an etf investor, is located in the vault of the zürcher kantonalbank (zurich canton bank) and cannot be processed simultaneously in a production operation .
switzerland' s oldest bank shuts down. does it mean the end of super - secret banks ?
please do not wonder if your bank mentions such “funny” excuses, why the etf is not purchasable .
deposit guarantee schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations .
as measured by total assets of 2013, st. galler kantonalbank is the fifth largest cantonal bank in switzerland. the parent company sgkb offers the entire range of financial services to its clients in the cantons of st. gallen and appenzell ausserrhoden. moreover, the bank as an employer, taxpayer and sponsoring partner takes on its responsibility for the economic, social and cultural development of the region .
as always, this is a recommendation for the bank, but not an investment advice to buy certain etfs .
the swiss - american start - up currently has offices in zurich, new york and london, as well as local sales partners in los angeles, berlin and sao paulo .
to this end zkb in january asked zurich’s parliament for an extra chf2 billion in funding to meet the steadily increasing regulatory demands. the canton is expected to decide next year whether to raise the amount of taxpayers’ money underpinning the bank to chf4. 5 billion (from chf2. 5 billion currently) .
argor - heraeus is located in mendrisio in the canton of ticino. the refinery is jointly owned by german company heraeus, german bank commerzbank, the austrian mint (which is owned by the austrian central bank), and argor - heraeus management .
currently the snb maintains that about 70% of its 1, 040 tonnes of gold is stored in switzerland, with roughly 20% stored at the bank of england, and 10% stored with the bank of canada in ottawa [ 25 ] .
zürcher kantonalbank is rated by fitch, moody' s. long - term credit rating assigned to the bank by fitch is aaa (highest credit quality). long - term credit rating assigned to the bank by moody' s is aaa (prime) .
“the reorientation of international private banking, which was initiated in 2009, along with a consistent implementation of the bank' s white money strategy was an important prerequisite for a consensual agreement with the german judicial authorities, ” said a statement from the bank on tuesday .
there are 24 cantonal banks in switzerland, i. e. one for every canton, with the exception of solothurn and appenzell ausser rhoden. the cantons either own the bank outright or are the majority stakeholder. cantonal banks were founded in the second half of the 19th century. historically, the role of these banks was to strengthen and support the local economy through the provision of low - cost loans. today they offer an extensive range of products and services. their main areas of business are loans to small and medium - sized companies and retail banking, particularly mortgages .
for many banks, it is still a problem to buy the silver and gold etfs of the zürcher kantonalbank (zkb – zurich canton bank). actually, i wanted to show the purchase based on the dkb securities accounts (article in german language), but that did not work out as desired. i will tell you more on that later .
st. galler kantonalbank has changed a lot since its foundation in 1868. from a government - owned credit institution has emerged a modern universal bank .
graubündner kantonalbank has bought a 25% share in the zurich - based independent asset manager albin kistler, in a move which will see the chur - based institution increase its holding to 51% over the next three years .
in 2016 zürcher kantonalbank was ranked the 6th largest bank in switzerland in terms of total assets, having 5. 05% of the domestic market share .
the video clip shows how easy and cheap one can purchase the zkb etfs through the comdirect bank – my second favourite bank. who has not yet seen or read the video article “ what zkb silver etf should one buy “, maybe should do this before viewing this clip (video in german language) .
le centre de ressources sur les entreprises et les droits de l' homme a invité la banque cantonale de zurich à répondre sur ses investissements dans nevsun resources; entreprise poursuivie en justice au canada pour complicité dans l’utilisation de ...
the actual trading mechanism of the zurich gold pool consisted of a buying syndicate between the three swiss banks whereby they quoted a coordinated bid price for their purchases, but the gold that was bought into the pool was then available individually to the three banks to sell to their respective customers at each banks’ own offer prices (i. e. common bid price, individual bank offer price) .
the bank’s international push for growth has led to other problems, most notably a criminal investigation in the united states into allegations that the bank helped us citizens evade taxes. three of its employees are currently facing charges of helping nearly 200 us clients evade taxes on assets of at least $ 423 million (chf435 million) .
in its role as the central bank for central banks, the bank for international settlements (bis), headquartered in basel, switzerland, is a critical part of the international gold market and an often overlooked part of the swiss gold market. in essence, the bis acts as the gold broker to the world’s central banks .
during this two - week period, ubs, sbc and credit suisse formed a gold trading alliance and managed to convince south africa, the world’s largest gold supplier at the time, to sell its gold directly to the three zurich banks and not, as had been the case previously, to sell its gold on the london market. this alliance between the banks, and the direct gold flows from south africa to switzerland was successful in boosting gold business in zurich, to the disadvantage of london .
some years ago, the central bank of portugal suffered this without financial crisis. it had lent large stocks of gold and its lending partner went bankrupt. the gold was gone !
in switzerland, ubs conducts a full spectrum of gold activities in the wholesale market, from trading gold on a spot and forward basis, to offering gold swaps, and interest rate swaps on gold, through to offering gold storage facilities and physical metal handling services. ubs ag was formed through the merger of union bank of switzerland and swiss bank corporation in 1998 .
raiffeisen bank cooperative is the third largest banking group in switzerland after ubs and credit suisse. in a similar way to the raiffeisen structure in austria, which includes the austrian raiffeisen zentralbank and raiffeisen bank, the raiffeisen banking group in switzerland consists of nearly 300 cooperative banks, with more than 1000 branches, with the ‘raiffeisen switzerland cooperative’ (headquartered in st gallen) coordinating and supporting the banks in its network. raiffeisen bank trades precious metals and also offers precious metals accounts (unallocated) and physical precious metals to customers in its network [ 9 ] .
if you want to invest in the etfs of the zkb, then i can truly recommend the comdirect bank. already in 2009, i have bought zkb - etfs through the comdirect .
the precious metal etfs of the zürcher kantonalbank are purchasable through all custodian banks that are connected with the börse zürich (stock exchange market of zurich). this is the home stock exchange market of the zkb, at which the fund units are traded on a daily basis .
german gold wholesaler / retailer pro aurum has 2 swiss branches, a) manno in lugano in the canton of ticino (near three large gold refineries), and b) in kilchberg just outside zurich. the kilchberg branch of pro aurum has a vault in a former zuercher kantonalbank branch .
‘we are very strong in the research department and asset management and the graubündner kantonalbank can benefit from that. the bank on the other hand can give us synergies at the time of technological changes. ’
on november 6, a lawsuit was filed by a us attorney in manhattan asking citigroup and bank of new york mellon for records of us clients of zürcher kantonalbank to determine whether those people had evaded taxes .
the bis operates gold trading services from its basel headquarters (and from its hong kong branch office) on behalf of the world’s central banks. these gold services include safe custody facilities and transactional services such as sight and term gold deposit (with central banks as the lenders), spot and forward purchase and sale gold transactions with settlement loco london, loco new york, loco berne, and options and swaps on gold [ 27 ]. the bis maintains gold custody accounts with the bank of england, the federal reserve bank of new york (frbny), the swiss national bank (and historically the banque de france), so central banks clients of the bis can hold gold at these locations under the name of the bis by utilising sub - accounts of the bis gold accounts that are held at the bank of england, the frbny, and the snb .
long - term rating for zürcher kantonalbank it is set to aaa (prime). long - term bank deposit rating is aaa (prime). baseline credit assessment is a2. short - term rating is not assigned .
‘it is very important that even if albin and kistler are not around the ownership of the firm is secured in the long - term. it is also good to have an experienced bank as one of the shareholders. ’
the bank must also come up with an emergency plan of how to protect its core functions, such as retail deposits, should it collapse. zkb said on monday that it does not anticipate having to change strategy or cut any rsikier operations .
… and unfortunately, many bankers play this game – some out of self - preservation reasons, because the jobs in the bank are somehow linked to the financial system, but many, because they do not (want to) understand it .
they have large market shares in these sectors, and many of them are market leaders in their region. recently, cantonal banks have also made a name for themselves in the investment sector. they directly compete with other banks and banking groups, and are subject to the same banking regulations as all other swiss banks. they operate mostly in switzerland (over 90% , taking the group as a whole) .
the swiss national bank (snb) turned up the heat on the zürcher kantonalbank (zkb) on monday by upgrading it to a category one “systemically relevant” institution. in other words, zkb’s collapse would cause more pain than the swiss economy could bear .
the bank has calculated that it would have to be responsible for more than one in ten domestic business loans and retail deposits for finma to insist on more cash being put aside. zkb currently enjoys a market share of between 6% and 8% .
“we do not just take without giving something back, ” blum told swissinfo. ch. “we are contractually tasked to support small businesses and agriculture and to help provide affordable housing. no purely commercial bank would service these goals to the same degree. ”
swiss gold import and export statistics provide vital clues in helping to track the world’s largest gold flows to and from the swiss refineries, so its hugely beneficial that the swiss federal customs recently saw fit to make this data more accessible. on the other hand, the monetary gold transactions conducted by that secretive swiss based institution, the bank for international settlements, and its central bank customer gold storage details, remain completely opaque, and are a reminder that not everything in the global gold market wants to have a spotlight shone on it .
the ambitious zkb has been busily expanding its business in recent times, in particular its wealth management services. but the international push for growth has led to some problems, most notably a criminal investigation in the united states into allegations that the bank helped us citizens evade taxes .
the bank reported an operating profit of chf393 million in the first half of 2016, an increase of 8% . by the end of june 2016, it had chf 260. 2 billion of customer assets under management, compared to chf 257. 5 billion at the end of 2015 .
banker love to conceal that the etfs of the zkb are still purchasable. however, not through the direct investment at the investment company. they know that german funds are easily purchasable and sometimes even with a discounted issue surcharge through the bank without stock exchange market directly to the fund company .
originally, the refinery was established as argor sa in 1951. in 1960, swiss bank union bank of switzerland (ubs) acquired an 80% shareholding in argor, and increased ownership to 100% in 1973. ubs sold a 25% stake to heraeus in 1986, and in 1999 ubs sold out fully leaving heraeus and the company management controlling the entire shareholding. the same year commerzbank purchased a 35% stake, and in 2002 the austrian mint bought a 24. 3% interest. argor - heraeus has an annual refining capacity of 450 tonnes for both gold and silver .
the swiss national bank is notable in that it still manages the 8th largest official central bank gold reserves in the world at 1, 040 tonnes (7th largest in the world excluding the imf). this is despite having sold off 1, 550 tonnes of its gold in the 2000s, before which it held the world’s 5th largest official gold reserves (4th largest after france, germany and the us, excluding the imf). note that in 2000, france still held over 3000 tonnes of gold. in 1999, switzerland claimed to hold official gold holdings of 2, 590 tonnes. during the period 2000 to 2004, the snb sold 1, 300 tonnes of gold under the first two central bank gold agreements. following this in 2007 - 2008, switzerland sold 250 additional tonnes of gold, bringing its total gold holdings down to 1, 040 tonnes [ 24 ] .
in switzerland, credit suisse trades gold on a spot and forward basis, and also trades gold swaps and options [ 4 ]. the bank offers its customers physically allocated and pool allocated gold safekeeping facilities [ 5 ], as well as precious metals accounts (unallocated accounts) [ 6 ] .
after an internal assessment, he informed me that the dkb does not allow their securities account customers to buy the zkb silver etf, in order to protect the customers from themselves. another bank “went the extra mile” and claimed that etf are “non - transparent” investments. a total loss would be possible .
precious metals inter - dealer brokers premex (or prebon premex), part of the cosmorex ag group [ 15 ] is located in thalwil, in the kilchberg area near zurich. cosmorex is itself a fully owned subsidiary of the extensive tullett prebon brokerage group [ 16 ]. premex was originally founded by the three banks of the swiss gold pool (ubs, sbc and credit suisse), and nowdays premex / cosmorex operates in the inter - bank precious metals market, offering services such as otc options, forwards and precious metals interest rate swaps to institutional clients. the premex percious metals team operates trading desks in dubai, singapore and london, as well as in thalwil. prebon premex is an ordinary member of the lbma in the dealer category through the lbma membership of tullett prebon london .
switzerland is renowned for its extensive banking and investment sector which comprises large universal banks, cantonal banks, and swiss raiffeisen (savings banks), in addition to the private banking and wealth management sectors. most if not all of these banking and financial institutions have some degree of involvement in the swiss gold market, and until the 1990s each of the three largest swiss banks maintained an ownership stake in a swiss gold refinery. trading in the swiss gold market is exclusively over - the - counter, and there are no central exchanges or trading venues .
gold held in custody (under earmark) by the bis for central banks is reflected in the bis annual financial accounts as an ‘off balance sheet item’. this balance sheet item totalled over 440 tonnes in march 2015. gold on the bis balance sheet represents gold deposits and swaps, and the bis’ own gold. as of march 2015, the bis held 108 tonnes of its own gold on its balance sheet as an investment asset, and over 350 tonnes of gold deposits on behalf of central bank customers [ 28 ]. it’s unclear as to how much of the bis’ own gold and custody gold is stored with the swiss national bank in berne, as the bis chooses not to confirm its gold storage arrangements when asked .
the exact consequences for zkb have yet to be determined by the swiss financial market supervisory authority (finma), but it would it would mean the bank having to cover between 14% and 19% of its risky assets with capital reserves. it is currently obligated to set aside enough cash to underpin 13. 6% of its more nail - biting trades .
another private bank, pictet & cie [ 12 ], based in geneva is active in the gold market for its clients, and is an associate of the lbma, and a member of the association of swiss private banks (l’association de banques privées suisses (abps) ). abps [ 13 ] is a 10 member grouping of prestigious swiss private banks, located in geneva .
essentially, the control office enforces the ‘precious metals control law’. in practice, this is done by ‘licensed assayers’ or “essayeurs jurés” who certify and maintain the quality of the precious metals produced by the swiss precious metals fabricators. some of these assayers work directly for the control office, others are employed by and work in the refineries. looking at the branch locations of the central control office is a good way to gauge where the most important participants in the swiss gold industry are located. for example, there are control offices in chiasso and neuchatel near the large gold refineries, and also in the gold import and export hubs of zurich and geneva .
the key point about the snb’s gold stored in switzerland is that the snb will not confirm where this gold is stored, however it has always been assumed in the media that this gold is stored in vaults of the snb under its headquarters in the city of berne, where the bank for international settlements, through an arrangement with the snb, also appears to store the gold that it maintains via its ‘loco berne’ gold settlement and safekeeping facilities .
ubs ag, through its london branch, is a london bullion market association [ 3 ] market maker in gold and silver spot, forwards and options and is a direct participant in the current daily lbma gold price auctions. ubs is also one of the five members of the london gold clearing hub called london precious metals clearing limited (lpmcl), although it does not maintain its own precious metals vault in london. the distinct entities of ubs (switzerland) and credit suisse ag (zurich) are also ordinary members of the lbma in addition to their london branches being lbma market makers. both swiss banks have historically been active participants in the gold lending market, and both banks currently offer gold deposit - taking services .
metalor’s swiss refinery is located in marin - epagnier in the canton of neuchâtel, in the north - west of switzerland. metalor also operates three other precious metals refineries, one in the us (north attleboro, massachusetts), one in hong kong, and one in singapore. metalor’s worldwide gold refining capacity is approximately 800 tonnes per annum. metalor is owned by private equity group astorg partners, as well as a group of swiss investors and metalor management. historically, metalor was owned by swiss bank corporation (sbc) between 1918 and 1998 .
in 2017 total assets of zürcher kantonalbank were 162, 71 bln chf. zürcher kantonalbank had 5 179 employees in 2015 .
zürcher kantonalbank is focused on universal banking for natural persons and legal entities residing in the canton. zürcher kantonalbank provides products and services in the areas of retail banking, corporate banking. the range of products offered by zürcher kantonalbank includes savings products, mortgage loans .
of zürcher kantonalbank were 162. 71 bln chf. growth compared to the previous period (2016) was 4. 06% . the evolution of the total assets of zürcher kantonalbank is shown at chart 1 below .
recent changes in total assets of zürcher kantonalbank and its main components are shown in table 1 .
table 1. recent changes in total assets of zürcher kantonalbank (bln chf) .
recent changes in total liabilities of zürcher kantonalbank and its main components are shown in table 2 .
table 2. recent changes in total liabilities of zürcher kantonalbank (bln chf) .
recent changes in gross profit of zürcher kantonalbank and its main components are shown in table 3 .
table 3. recent changes in gross profit of zürcher kantonalbank (mln chf) .
of zürcher kantonalbank was 690. 61 mln chf. decline compared to the previous period (2015) was - 4. 38% . the evolution of the annual profit of zürcher kantonalbank is shown at chart 2 below .
in 2015 there were 5 179 employees of zürcher kantonalbank. growth compared to the previous period (2014) was 6. 92% .
several banks having the market shares and ranks closest to zürcher kantonalbank are shown below .
credit rating is an opinion of a credit rating agency about credit worthiness of a company or a government. zürcher kantonalbank is rated by fitch and moody' s .
credit ratings assigned to zürcher kantonalbank as of may 2018 are shown in details in the following sections .
long - term issuer default rating is fitch' s view of a credit institution' s relative vulnerability to default on its financial obligations, for zürcher kantonalbank it is set to aaa (highest credit quality), outlook is stable (not likely to change). the rating is not on watch. short - term issuer default rating for zürcher kantonalbank is set to f1 + (highest short - term credit quality) .
viability rating for zürcher kantonalbank is set to a + (high fundamental credit quality); support rating is 1 (extremely high probability of external support); support rating floor is wd (withdrawn) .
outlook for the ratings of zürcher kantonalbank is set to stable (not likely to change) .
all credit institutions operating in switzerland are obliged to participate in swiss deposit guarantee scheme .
credit balances (e. g. personal accounts, savings accounts, investment accounts, salary accounts, numbered accounts, deposit accounts and current accounts )
bic (business identifier code, also known as swift code or swift bic) is a the mostly used international identifier of financial institutions. swift is the registration authority for bics. bics are used in financial transactions, client and counterparty data bases, compliance documents and many others .
a bic consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters) .
company registration number is a distinctive code issued upon registration of a new company. this code can be used to find data about the company in a national company register .
in switzerland. decline compared to the previous period (2014) was - 6. 19% .
zürcher kantonalbank operates under the brand name zurcher kantonalbank. this banking brand has presence in the following european countries and selected dependent territories of the european countries :
three other major swiss banks, - ubs, credit suisse and julius baer - paid between €300 million and €50 million in 2014 and 2011 respectively .
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zkb believes that by currently covering 14. 9% of these risky assets, it has already done enough to match finma’s future demands .
they account for approximately 30% of the total assets of all swiss - domiciled banks, and the market share of their domestic operations is about one third, depending on the business area. together they employ nearly 19, 000 people .
“each time the regulatory bar has been raised we have matched those requirements, ” he said. “we have increased our capital reserves by 50% to chf9 billion ($ 9. 78 billion) since the financial crisis hit. we believe we will still be above the new requirements, but we would like some more breathing space. ”
with a capitalisation of chf150 billion at the end of last year, zkb is the fourth largest banking group in switzerland – behind ubs, credit suisse and raiffeisen. it realised profits of chf744 million in 2012, employed just over 5, 000 staff and managed nearly chf200 billion of clients’ wealth .
a finma spokesman told urltoken that the regulator supported the snb’s decision to name zkb as too big to fail, but declined to go into detail of how stringent the new capital requirements could be .
swiss too big to fail legislation, that came into force last year, also demands that these banks cover at least 4. 5% of all assets - no matter how risky - with capital reserves. zkb said its so - called leverage ratio is already comfortably above this threshold .
the us tax authorities (irs) concluded that “zkb has used the citibank and bny mellon correspondent accounts to provide offshore banking services to us taxpayers, who in turn have failed to report the existence of their zkb accounts to the irs, as well as the income earned on those accounts, ” according to a copy of the complaint, known as a john doe summons .
the complaint comes amid a us crackdown on offshore tax evasion. last december, three current or former zkb employees were indicted on charges of helping us clients hide more than $ 420 million from the irs .
since 2009, 38, 000 us taxpayers have avoided prosecution by voluntarily disclosing offshore accounts to the irs, and 371 were zkb clients, according to the complaint .
two years ago, switzerland’s two largest banks - ubs and credit suisse - were ordered to cut risks, strengthen reserves and generally better ...
as global financial regulators grapple with making the system safer, banks are trying to second guess the future landscape and formulate ...
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​at ibm, when performance review time rolls around, staff get judged not only on their past achievements but also on how they might pe ...
samsung has taken the ‘make in india’ initiative to another level by launching ‘ ...
more than three quarters rejected the so - called sovereign money initiative, according to the official result released from the swiss government .
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economists suggest that the world’s fourth socio - economic revolution might stem from this development as switzerland has emerged as a serious competitor to california .
tourism is the mainstay of the village so it abounds in the owner run exotic hotels and restaurants and cafes .
the castle itself was built in the early 13th century by the rapperswil counts, powerful nobles who moved from across the river to settle here .
the creative community says the make in india campaign should be complemented with participation in global art shows and an upgrade of india’s design ecosystem .
there is a buzz these days at the usually tranquil paradeplatz headquarters of zuercher kantonalbank, where flocks of people were crowding in .
the age of super - secret banks is over? there are countries which allow the super rich to park money in their banks .
roman polanski began his house arrest on $ 4. 5 million bail, rolling into the luxury resort of gstaad in a police convoy to a warm welcome from his wife and children at his alpine chalet .
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zkipster’s new financing round comes on the heels of launching zface, a picture sourcing engine that helps event planners put a face to a name, the industry' s first digital picture guest list. last week, the new york times called zface
the new weapon to the defensive arsenal
of event planners .
the zkipster team has managed to build an impressive track record in a very short time, ” said david hug, a member of zkb' s startup - finance team .
they turned a paper based solution into a digital business giving event planners a tool to professionalize their offering. our commitment will help zkipster continue its significant growth and maintain its leading position .
zkb is the perfect fit for us – bringing their start - up resources together with our vision to deliver strong guest list solutions to our clients ,
said zkipster co - founder david becker. “but this is only the first step. we are working on a series of exciting guest list solutions and are excited to partner with one of the world’s safest and best rated banks to unveil them .
zkipster - guest list solutions was founded in 2009 by david becker and daniel dessauges to provide simple, user - friendly guest list solutions and replace needless paper clipboards at clubs and bars. since launching a new york city office in summer 2012, the company has focused on expanding its business footprint into the professional event planning industry .
to date, zkipster has secured contracts with more than 1, 000 brands and organizations in art, fashion, media, non - profit and government agencies in more than 40 countries. furthermore, zkipster' s product team is working on building add - on features based on feedback of clients like hbo, the whitney museum, john varvatos and sotheby' s .
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speaking to citywire switzerland, norbert albin, who is a partner at albin kistler, said the reason behind the move is succession issues, as his and partner andré kistler’s children don’t want to work in the industry .
while the asset manager doesn’t have finalised guidelines for the cooperation yet, albin said work groups are going to explore opportunities further in the nearest future. ‘at the moment it is important that we can work in the same way we always did, so clients won’t even feel that we have a new shareholder. ’
albin added employees are positive about the change and said no one is planning to leave the firm. ‘we also informed the network of our clients about this. some of them are critical and asked good questions but the majority have congratulated us. we advise chf 4 billion and are not planning to change our research process. ’
albin said the firm' s workflow won’t change, nor will its heavy emphasis on research. for example, albin kistler hired seven analysts over the last three years and has plans to add more .
‘we want to beat the competition in achieving outperformance, especially in the bond and swiss equity spaces. good research is essential for that, we plan to maintain and invest even more into it, ’ he said .
albin added he has full flexibility to change asset allocation and is overweight equities at the moment. the big share of allocation is bonds issued in swiss francs, while paper issued abroad adds up to 30% across portfolios .
‘in the bond space we earned quite a lot of money this year. we are investing mostly in bonds of companies issued in swiss francs and you can still finds good returns on this market. ’
when it comes to investments in funds, albin' s team is invests with caution. albin kistler has its own fund palette, both in swiss franc and foreign currencies, for instance the albin kistler schweiz and albin kistler obligationen .
the firm also recently launched a new small mid - cap strategy albin kistler aktien small & mid cap schweiz. ‘small clients like funds but for big clients we are investing almost exclusively directly in equities or bonds. meanwhile we are not tackling alternative investments’
he said when it comes to regulations, the firm hasn’t experienced issues so far. albin kistler complies with finma rules and has mainly swiss clients. ‘however, if new regulations are coming our way, to have graubündner kantonalbank as a partner will be definitely an advantage. ’
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the assets of st. galler kantonalbank (sgkb) are covered by a government guarantee. the company has an aa1 rating of moody’s .
take - over of' sparkasse der katholischen administration des kantons st. gallen'
first branch beyond the borders of the canton of st. gallen in herisau, appenzell - ausserrhoden
st. galler kantonalbank ltd. st. leonhardstrasse 25 9001 st. gallen t + 41 (0) 71 231 31 31 e - mail
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prof. calestous juma, kennedy school of government, harvard, cambridge ma ✝ 12. 15. 17
zurich cantonal bank ( german : zürcher kantonalbank , or zkb ) is the largest cantonal bank and fourth largest bank in switzerland , as well as the leading financial services provider in the greater zurich area , with total assets of over chf 150 billion . zkb , as an independent , incorporated public-law institution , is wholly owned by the canton of zurich . ultimate supervision of zkb is the responsibility of the cantonal council of zurich , whose duties are laid down in zurich 's cantonal bank act . under the law , the canton of zurich bears responsibility for all zkb 's liabilities should the bank 's resources prove inadequate . this cantonal guarantee acts as a stabilising force for the financial market as a whole , particularly in times of economic uncertainty . on october 2009 , global finance magazine rated zkb at one of the five safest banks in the world , on the basis of it being one of only five financial institutions that enjoyed a triple standard & poor 's , fitch and moody 's aaa/aaa rating globally . 
zurich cantonal bank (german: zürcher kantonalbank, or zkb) is the largest cantonal bank and fourth largest bank in switzerland, as well as the leading financial services provider in the greater zurich area, with total assets of over chf 150 billion. zkb, as an independent, incorporated public-law institution, is wholly owned by the canton of zurich. ultimate supervision of zkb is the responsibility of the cantonal council of zurich, whose duties are laid down in zurich's cantonal bank act. under the law, the canton of zurich bears responsibility for all zkb's liabilities should the bank's resources prove inadequate. this cantonal guarantee acts as a stabilising force for the financial market as a whole, particularly in times of economic uncertainty. on october 2009, global finance magazine rated zkb at one of the five safest banks in the world, on the basis of it being one of only five financial institutions that enjoyed a triple standard & poor's, fitch and moody's aaa/aaa rating globally.
zurich cantonal bank (german: zürcher kantonalbank, or zkb) is the largest cantonal bank and fourth largest bank in switzerland, as well as the leading financial services provider in the greater zurich area, with total assets of over chf 150 billion. zkb, as an independent, incorporated public-law institution, is wholly owned by the canton of zurich. ultimate supervision of zkb is the responsibility of the cantonal council of zurich, whose duties are laid down in zurich's cantonal bank act. under the law, the canton of zurich bears responsibility for all zkb's liabilities should the bank's resources prove inadequate. this cantonal guarantee acts as a stabilising force for the financial market as a whole, particularly in times of economic uncertainty. on october 2009, global finance magazine rated zkb at one of the five safest banks in the world, on the basis of it being one of only five financial institutions that enjoyed a triple standard & poor's, fitch and moody's aaa/aaa rating globally.