Geneva Bank Jobs Fall to Lowest Since Crisis Amid Regulatory Woe
- Costs, tax scrutiny lessen Swiss banking's foreign appeal
- Financial center is `resilient,' Nicolas Pictet says
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Banking jobs in Geneva slipped to the lowest level since the 2008 financial crisis amid regulatory pressures, tax scrutiny and consolidation in the Swiss finance industry, according to lobby group Geneva Financial Center.
Employees at banks in the city fell 3 percent to 18,855 in the 12 months through August, after peaking at 20,753 in 2012. This year’s total is about 150 jobs less than seven years ago, just before Lehman Brothers Holdings Inc. collapsed.