When talking about Switzerland, people all over the world probably think of watches, banks and picturesque scenery first.
Although Switzerland's land area is not large, and most of its land is mountainous and plateaus, and it is a landlocked country without any access to the sea, Switzerland is one of the richest, most socially stable, most economically developed and countries with the highest living standards on the planet. There are only a handful of countries in the world that can compare with Switzerland.
Although Switzerland is extremely famous for its watches and tourism, its most famous business card is its banking industry!
As one of the most stable economies in the world, Switzerland has become a safe haven for tax-avoiding investors because of its long-term policies, secure financial system and bank confidentiality system. Since the 17th century, Switzerland's banking industry has begun to emerge in the world, and has been developing steadily until now. It has formed a highly developed banking industry headed by UBS Group and Credit Suisse, which has not only become the most important economic pillar of Switzerland, but also occupies an important part in the global banking industry.
Switzerland is the world's largest offshore financial center, surpassing London, New York and Frankfurt, with a 35% market share, and is recognized as a global leader in international asset management. The Swiss banking industry manages more than 3.3 trillion Swiss francs, or about 2.75 trillion U.S. dollars in assets, half of which come from other countries.
The main reason why the Swiss banking industry can attract so much capital from all over the world is that the Swiss banking industry’s confidentiality system is so great that depositors can’t find any reason to reject Swiss banks!
Bank confidentiality for customers refers to the bank's obligation to remain silent on all matters concerning its customers. This is not only the most basic thing a bank needs to do, but also a supreme right of the customer.
However, banks in many other countries of the world are unable to do this, for one reason or another. Even large international banks such as Citibank, Bank of China and HSBC are unable to maintain complete confidentiality for their depositors.
But in Switzerland, client confidentiality is the fundamental principle of Swiss banks and is even written into the constitution.
It is precisely because of this excellent confidentiality system that the Swiss banking industry has been the most competitive bank in the world until the first decade of the new century!
Although this confidentiality law is great for customers, it also exposes the drawback of lack of transparency, objectively facilitating criminal activities such as tax evasion and money laundering. Switzerland has therefore been criticized by the outside world along with other countries such as Austria and Luxembourg that also adhere to the tradition of bank confidentiality, and has long been called Europe's "tax haven".
At the beginning of the second decade of the new century, international pressure has gradually begun to loosen the confidentiality system of the Swiss banking industry. In particular, the big rogue United States has used its power to suppress others. Coupled with the instigation of other developed European countries, the confidentiality system of the Swiss banking industry is now gradually coming to an end.
However, even so, among the banks in Switzerland, there are still some very old private banks that still stick to that bottom line. No matter who says it, they will never give in and will resolutely implement the confidentiality system pursued by private banks to the end!
In Switzerland, private banks are an important part of the banking industry. Swiss private banks adhere to low-key confidentiality and respect for privacy! This is also the biggest difference between Swiss banks and British and American banks!
To live comfortably, you must live low-key! This is the universally recognized slogan of Swiss private banks.
Swiss private bankers basically believe in Protestantism in Christianity, advocating frugality, diligence, humility, integrity, self-respect, and opposing extravagance, corruption and betrayal of faith.
In this regard, Swiss private banks are unparalleled, and no private banks in any country in the world can compare with Swiss private banks.
Among the many private banks in Switzerland, one private bank is the most famous, and that is the famous Lon Odachen Bank.
Lombard Odile Darrier Hench Bank is the abbreviation of Lombard Odile Darrier Hench Bank. It is a bank formed by the merger of two private banks, but it is still a private bank. Its predecessors are Lombard Odile Bank and Darrier Hench Bank.
There is a saying in the private banking world: "If you haven't heard of the name of Long Odahen Bank, the biggest reason is that you are not rich enough."
In 1796, when China was still in the late Qianlong period of the Qing Dynasty, Henry Hench founded a trading company in Geneva, mainly engaged in silk and other textile trade and brokerage services. This company was the predecessor of Darrie Hench Bank. Because the business of private banking is simply to manage wealth on behalf of customers, the company founded by Henry Hench also became the world's first private bank!
In the 1830s, the second generation of partners took over the company, and a new partner, Charles Odile, joined. Lon Odile Bank began to develop financial business in shipping, river shipping, and railways. In the mid-to-late 19th century, under the diligent management of partners Alexi Lombard and James Odile, Lon Odile became a well-known bank in Geneva.
In the 1970s, Lombard O'Dahen Bank pioneered the mutual fund business in Europe. In 2002, Lombard O'Dahen and Darrier Hench merged and changed their name to Lombard O'Dahen Bank.
Up to now, Lon O'Dahen Bank has been developing for more than 220 years, which is longer than the history of Louis Vuitton and Hermès. Although the assets managed by Lon O'Dahen Bank are USD 170 billion, which is much less than the trillion-dollar assets managed by international banks such as UBS, Citigroup and HSBC, Lon O'Dahen deliberately keeps it small and exquisite, not only to maintain tradition, but also to determine its position in this fiercely competitive market.
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