SCOTTISH AND SWISS FUND MANAGERS AT GENEVA ROUNDTABLE
February 24, 2009
Representatives from some of Scotland's top fund management companies meet with their Swiss counterparts in Geneva on Thursday (26 February) to discuss joint opportunities for their sector.
The event has been arranged to focus on asset management - a major part of the financial services industry in both countries. The most recently published global financial centres index lists Geneva as 8th, and Edinburgh 9th in the world for asset management.
The Scottish delegation is led by Anne Richards, chief investment officer at Aberdeen Asset Management (AAM) and board member of Scottish Financial Enterprise (SFE).
John Nichols, HM Ambassador to Switzerland, will also take part in the discussions.
Companies attending the meeting include Baillie Gifford, BlackRock, Cornelian Asset Managers and Dryden Associates.
The British-Swiss Chamber of Commerce and Scottish Development International will also attend.
Anne Richards, of AAM and SFE, said: "Both countries are leading global financial centres. Switzerland and Scotland are partners with huge potential to collaborate on effective management of assets for the benefit of clients on both sides. It is a great opportunity for us to exchange information and ideas.
"This event will allow us to take stock of the issues currently affecting the global financial community and look to enhance our future cooperation. I look forward to our discussions and am sure this event will be beneficial to all of the companies who participate and the broader markets of each country."
John Nichols, HM Ambassador to Switzerland said: " Scotland is a major international financial centre. The industry accounts for £7bn (over 7%) of Scotland's GDP and for 10% of Scottish jobs, with some 100,000 people directly employed and up to 100,000 more employed in support services.
" Scotland is one of the world's major fund management centres with approximately £580 billion managed. With a strong presence in the institutional, retail and private client markets and particular strengths in areas including pensions and the management of long-term savings, investment trusts, property funds, private equity funds and hedge funds, the IMA estimates that around 14% of the total UK's assets under management are managed in Scotland.
" For financial services, Scotland provides a winning business proposition."
Mary Mowat: 0131 247 7700
Scottish Financial Enterprise
