The press releases page is designed for journalists, clients and any other stakeholder interested in getting the latest news from Deloitte in Switzerland.
Zurich/Geneva, 22 April 2021
Two-thirds (65%) of Swiss CFOs are optimistic again and see positive growth prospects for the economy as a whole over the next 12 months. Most CFOs (69%) also expect a positive performance for their own company. Despite the optimism, however, the situation remains unstable. This can be seen from the current turnover: two-thirds (66%) of companies have not yet reached pre-crisis levels, and half do not expect a full recovery this year. The pandemic also remains the biggest risk for companies and it also exacerbates other risks, for example in supply chains, digitalisation and cyber security. With regard to the long-term consequences of the pandemic, a majority of the 125 CFOs surveyed agree: working with their clients will continue to be digitalised and office staff will not permanently work exclusively from home. Companies must therefore rely increasingly on flexible and targeted solutions to find a suitable balance with regard to remote working and client interaction.
Zurich/Geneva, 15 April 2021
Half of employees in Switzerland would like their employer to support them in the ongoing vaccination campaign. Almost a third of the approximately 1,500 respondents would like their employer to recommend that employees be vaccinated, and almost a quarter would like to see more extensive and active support through incentives such as a bonus or a change in procedures to make it easier to vaccinate. Companies have a vital interest in getting back to "normal" as soon as possible.
Zurich/Geneva, 26 March 2021
Remote working: most employees want to go back to the office after the pandemic - but not as often as before
In mid-January 2021, the Federal Council imposed new rules requiring people in Switzerland to work from home. Many people now apparently like to work from home: office workers in Switzerland would like to work partly (62%) or even completely (26%) from home even after the pandemic. This was revealed in a representative survey conducted by Deloitte Switzerland in mid-February.
Zurich/Geneva/Lucerne 28 February 2021
People as a key to success – talent management: Swiss companies anticipate difficulties in recruiting highly qualified employees
Are Swiss companies equipped to meet the challenges of recruiting, training and developing their employees? Over two-thirds of the board members surveyed are of this opinion. However, a quarter doubts whether their board of directors has sufficient expertise when it comes to personnel-related issues. Two-fifths feel that their board of directors does not take enough time to deal with the company's own talent management. The latest swissVR Monitor with responses from 420 board members also shows that a clear majority anticipates difficulties in recruiting highly qualified employees in the future. Respondents, therefore, attach great importance to identifying internal talent and developing their own staff: In the future, employees should act more independently and entrepreneurially and develop their digital skills.
Zurich/Geneva, 3 December 2020
With the highest net profit margin, Swiss luxury goods companies outperformed their international competitors in 2019, which gave them a head start into a difficult 2020. Especially in the subcategory for jewellery and watches, Swiss companies continue to shine, accounting for 32% of all companies in this sector in this year's Deloitte Global Powers of Luxury Goods Top 100 ranking. With two companies in the top 10 and a total of 10 companies, one up from the previous year, Switzerland generated 13.2% of luxury goods sales of the top 100 companies. While almost all the Swiss companies continued to grow, Swatch Group saw negative growth of 3% and dropped from 8th to 10th place in this year's ranking. At the same time, Swiss luxury watchmaker Richard Mille raced to the top of the 20 fastest-growing companies, recording impressive growth of 200%.
Zurich/Geneva, 4 November 2020
Deloitte’s net revenue increased by 5.0% in fiscal year 2020 despite the challenging market and the pandemic, exceeding half a billion francs for the first time. The professional services firm, employing around 2,000 people, has successfully navigated the crisis. As COVID-19 has acted as an accelerator in digitalisation, new business and talent models, the firm has supported its clients in their transformation projects. Deloitte remains cautiously optimistic for the ongoing fiscal year.
Zurich/Geneva, 26 October 2020
Despite the pandemic, Swiss watchmakers believe in-store shopping will prevail over digital platforms
The majority of Swiss watchmakers believe that bricks and mortar stores will remain the preferred sales channels for their products and will prevail over online in the coming years. This, despite the recent impact of the pandemic and accelerated digitalisation. In-store experiences are still viewed as an essential part of the customer journey, and companies are investing considerably in experiential brand marketing. Pessimism is rife among Swiss watch industry executives with 85% forecasting a grim outlook for the industry. Despite the challenging outlook, the industry is not complacent, prioritising omnichannel strategies, delving into the pre-owned market and shifting towards more sustainable and ethical ways of production.
Zurich/Geneva 22 October 2020
Deloitte CFO Survey: Loan defaults and cyberattacks represent the new major threats to Swiss companies
Swiss CFOs have identified payment and loan defaults as a serious risk for their companies for the first time. At the same time, cybersecurity has shot to the top of the list of concerns for Switzerland's CFOs. This is mainly due to the surge in digitalisation since the beginning of the pandemic and the increase in cyberattacks. CFOs are less pessimistic about the future than in spring of this year. However, a relative majority sees the economic outlook for the next twelve months as negative. Most companies do not expect turnover to return to pre-crisis levels until the third quarter of 2021.
Zurich/Geneva, 14 October 2020
One in two companies do not believe the Responsible Business Initiative will have an impact on their business
Companies in Switzerland are relatively relaxed about the Responsible Business Initiative which the Swiss will be voting on this November according to a recent Deloitte survey. Almost half of the CFOs surveyed do not expect it will have any substantial implications on their companies. However, they do believe that these implications will rather be negative than positive. Around a third of companies assume that they would need to adjust their risk management, strengthen internal controls and adapt the way they cooperate with suppliers. Whether or not the Swiss will vote for the initiative, companies will need to consider some of these measures. At the same time, companies need to emphasis greater transparency and a more systematic approach to reporting.
Zurich/Geneva, 12. July 2020
Power Up Switzerland: How businesses and policymakers can help the country regain its pole position post-COVID
Switzerland's model for success is under pressure - declining competitiveness and trivial gains in productivity were already posing challenges before the coronavirus crisis. Businesses in Switzerland need to seize the momentum generated by their exceptional location and state support and switch from crisis mode to sustainable growth mode as soon as possible. In addition to efficiency and costs, they must also strengthen their resilience and sustainability credentials. Deloitte Switzerland surveyed around 400 leading names from business, trade associations and politics about the success factors needed to power up Switzerland now and in the future. This new comprehensive report entitled, Power Up Switzerland reveals eight central areas where action is needed by both the state and companies to boost Switzerland’s competitiveness in the years to come.
The use of smartphone apps to combat the coronavirus outbreak has been widely discussed in recent weeks. By recording movement data, such an app could warn people if they have been in the vicinity of an infected person for a longer period of time. Just under two thirds (64%) of people of working age living in Switzerland support such an approach and 60% would also make their own movement data available for tracing infection chains via a smartphone. The Corona crisis seems to make people more open to digital technologies and new approaches.
Zurich/Geneva 12 March 2020
Switzerland loses out on global talent due to inflexible regulations – politicians and authorities need to act.
Is Switzerland still top of the list when it comes to attracting global talent? In a survey looking at the attractiveness of eight international business locations, Switzerland came last. This is because companies in Switzerland face complicated approval processes and unnecessary red tape when hiring individuals from abroad, and restrictive government regulations make it more challenging to prevent successful international university graduates from leaving the country. At the same time, the baby boomer generation is starting to leave the workforce, worsening the shortage of skilled workers. Lean, modern regulations that favour young and highly talented people, making it easier for certified companies to hire the talent they need, are some of the measures that Switzerland should consider to maintain its international competitiveness. In addition, Switzerland needs to digitalise and streamline work permit approval processes across the country to guarantee more efficiency.
Zurich/Geneva/Lucerne, 2 March 2020
Do companies in Switzerland accept their corporate responsibility? Four out of five board members state that this topic embedded in the corporate strategy. However, two out of five do not appear to have sufficient resources and expertise to successfully implement the topic. The current swissVR Monitor-with responses from 429 board members-demonstrates that only around half of the companies involved have clearly identified the subject areas that are important to them. The assumption of corporate responsibilities clearly focuses on employees, followed by customers and then, at a distance, followed by nature and the environment. There are also quite a few sceptical voices on this topic: A quarter of those surveyed believe that their only real responsibility is to make a profit and increase the value of the company.
Zurich/Geneva, 20 February 2020
Deloitte’s Global Powers of Retailing: Swiss retailers remain firmly in the global top 250 – sector outlook uncertain
The Top 250 global retailers generated aggregated revenues of USD 4.74 trillion in fiscal year 2018, representing composite growth of 4.1%, according to Deloitte’s Global Powers of Retailing 2020.
Zurich/Geneva, 18 November 2019
CFOs of Swiss companies expect increased pressure on their margins and a weakening economy. According to the latest Deloitte CFO Survey, just under half of the companies expect higher sales for the coming year – six months ago, that figure was more than two thirds. Uncertainty is rated as particularly high in Germany and the UK, which is putting pressure on all of Europe: Expectations for margins, investments, and staffing levels have all turned negative. The majority of Swiss CFOs even expect a recession in the Eurozone. And fewer and fewer are expecting negative interest rates to end anytime soon.
Zurich/Geneva, 14 November 2019
The Swiss population is ageing. By 2030, the Swiss labour market is likely to face a shortage of up to half a million workers. One solution is to make better use of the potential represented by the 50+ age group. According to a new Deloitte study on the ageing workforce, 40% of workers currently aged between 50 and 64 would actually like to continue working beyond retirement age. Yet very few assume that they will do so. Swiss companies, along with the government and the employees themselves, need to take action to bridge this gap.
Zurich, 28 October, 2019
Following the success of the inaugural inHR award last year, the three innovative and forward-thinking Swiss HR projects that have won the 2019 award have now been announced. The inHR award, which is presented in three categories and recognizes individuals and teams who perform pioneering work in HR, went this year to VBZ, Roche, and SwissRe.
Zurich/Geneva, 5 October, 2019
Deloitte Switzerland continues on its growth path and to invest in skills, technology and new services
Deloitte Switzerland has increased its net revenue by 1.3%, from CHF 475 million to CHF 481 million, in the fiscal year ending 31 May 2019 (FY19). This marks the continuation of Deloitte’s growth path over the last decade, as the professional services firm continues to invest in its audit footprint, each of its businesses, and its people. The firm’s Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal business areas all contributed to the firm’s performance. Among the sectors driving Deloitte’s growth were industrial products, consumer, life sciences and health care, and insurance.
Zurich/Geneva, 25 October 2019
Swiss CFOs call on Parliament to ensure sustainable relationships with the EU and to safeguard social security
According to a survey conducted by professional services firm Deloitte, CFOs of Swiss companies have clear priorities for the newly elected Parliament: establish sustainable relationships with the EU and ensure long-term market access abroad for Swiss companies, as well as reform Switzerland’s social security system.
Zurich, 25 August 2019
Swiss boards pressing ahead with digitalisation – high costs and ethical issues though pose challenges
Digitalisation has clearly become a priority topic for the boards of directors in Swiss companies: More than four out of five board members see opportunities to create new business and increase sales. However, substantially more than half of them state that they are spending a lot of money on digital transformation, which is reducing profitability. The new edition of swissVR Monitor – a bi-yearly survey gauging the attitudes of nearly 400 board members in Switzerland towards current matters of relevance to boards – clearly shows that the digitalisation of organisations is being driven from the top. Nonetheless, one third of the board members surveyed feel that progress was too slow, and four out of five of them feel they lack the relevant know-how. Board members also believe that digitalisation elicits an elevated security risk such as cyber-attacks. Whether boards pay enough attention to the ethical questions of digitalisation is debatable.
Zurich, 28 June 2019
Swiss millennials: Growing up in a constantly transforming world makes them pessimistic and less confident
Facing continuous technological and societal disruption, millennials are somewhat disillusioned with traditional institutions, sceptical of business’ motives and pessimistic about economic and social progress according to the Deloitte 2019 Millennials Survey. The report is based on the views of 13,416 young people from 42 countries aged between 24 and 35. In Switzerland 319 millennials participated. Despite growing prosperity and a diversity of opportunities, younger generations seem to be wary about the world and their place in it. Many millennials’ ambitions have changed, but they remain hopeful and lean on their values as both consumers and employees.
Zurich, 7 May 2019
According to the latest Deloitte CFO Survey, Swiss CFOs are more and more pessimistic about the country’s economic outlook. Geopolitical risks and weak demand are their current biggest concerns. Yet CFOs remain optimistic overall: they want to keep on investing and growing. This also holds true for CFOs’ expectations of financial prospects for their own companies – down slightly, but predominantly good in Switzerland. The expectations of CFOs in other European countries are comparatively bleaker. The Eurozone’s catching-up process after the long weak phase is nearing the end.
Zurich, 2 May 2019
Following the resounding success of the inaugural inHR award in 2018, its initiators have now launched the 2019 edition and are calling for entries from the Swiss HR community. The inHR award recognises pioneering HR work by individuals and teams at organisations in Switzerland. Entries for this year’s award can be submitted between 1 May and 30 June 2019. The award ceremony will take place in Zurich on 23 October.
Zurich/Geneva, 30 April 2019
It’s not just about pay: employee journeys based on age groups can improve the attractiveness of Swiss employers
The Swiss labour market is undergoing continual structural change, with roles and occupations changing and, with them, the demands made on workers. But also the needs, attitudes and motivating factors of the workforce are shifting. To recruit and retain staff in an increasingly competitive labour market, companies need to make better use of so far unexploited pools of labour and ever more to tune in the voice of the workforce.
Zurich/Geneva, 17 April 2019
Global Powers of Luxury Goods: Swiss luxury companies are taking the digital path to accelerate growth
Despite the recent slowdown of economic growth in major markets including China, the Eurozone and the US, the luxury goods market looks positive. In FY2017, the world’s Top 100 luxury goods companies generated aggregated revenues of USD 247 billion, representing composite sales growth of 10.8%, according to Deloitte’s 2019 edition of Global Powers of Luxury Goods. For comparison, in FY2016 sales were USD 217 billion and annual sales growth was as low as 1.0%. Three-fourth of the companies (76%) reported growth in their luxury sales in FY2017, with nearly half of these recording double-digit year-on-year growth.
Zurich/Geneva, 11 March 2019
Deloitte Private launched to serve growing market of family businesses, family offices and private equity firms
Switzerland is a globally unique market for privately owned organisations: rich in family-owned businesses, it also has a strong heritage of family offices and high net worth individuals (HNWI), and the private equity (PE) segment is growing in size and significance. To better address the needs of the private sector, Deloitte Switzerland has launched Deloitte Private – a dedicated practice that provides integrated advisory and assurance services to private entities.
Zurich/Geneva, 14 February 2018
The digitisation of the business world and the world of work is changing the skills needed at the workplace. Also, as the average life expectancy rises, the length of our working lives is likely to increase in the long term. Workers must adapt, retrain and upskill to keep pace. Lifelong learning has become imperative.
Zurich/Geneva, 30 January 2019
Reto Savoia has been elected as and will be appointed Chief Executive of Deloitte Switzerland, effective 1 June 2019. He will succeed Simon Owen who has been serving as CEO since early 2016. Reto is currently Deputy CEO and Managing Partner, Clients & Industries, and has been working alongside Simon and his Executive on transforming and growing Deloitte’s Advisory and Audit businesses in the Swiss market.
Zurich/Geneva, 21 January 2019
In fiscal year 2017, the top 250 global retailers generated aggregated revenues of USD 4.53 trillion, representing a composite growth of 5.7%. Over four fifths (83%, 208 companies) of the group posted positive revenue growth. Deloitte’s Global Powers of Retailing identifies the 250 largest retailers around the world based on publicly available data for FY2017
Zurich/Geneva, 18 January 2019
Alessandro Miolo has been appointed Managing Partner for Deloitte Switzerland’s Audit & Assurance business as the professional services firm seeks to continue its growth and impact in the Swiss marketplace.
Zurich, 19 December 2018
More and more people in Switzerland are relying on their smartphone to shop, pay and transfer money: 74% use their phone to get product information at least occasionally, 59% make purchases directly on their smartphone, 40% use the smartphone to pay travel fares, and 27% to pay in shops. The Deloitte survey of 1,000 people further shows that 65% of the population use their smartphone for banking transactions at least occasionally. Young people tend to use the smartphone a lot more often than the 50+ generation. International comparisons indicate that people in Switzerland are still cautious. In order to capitalise on these trends, financial institutions and retailers must invest consciously.
Friday, 14 December 2018
Zurich, 11 December 2018
Huge potential of older workers to close labour gap – but 1/3 of companies see them as competitive disadvantage
Digitisation is increasingly forcing employees to develop new and different skills. Demand is growing for employees with highly developed skills in the areas of creativity, social intelligence and digital technology. Some sectors, including ICT and health, are already finding it difficult to find staff. What’s more, the demographic change of an ageing workforce is amplifying the emerging labour gap.
Zurich, 15 November 2018
The Global Mobile Consumer Survey conducted by Deloitte in Switzerland of over 1,000 consumers and 56,000 people in 34 other industrial and emerging countries found that 92% of all adults in Switzerland own a smartphone, 97% of whom use their device every day.
Zurich, 13 November 2018
Swiss CFOs foresee a decline in the economic outlook for the first time in more than three years. The main reasons being looming international tensions and the potential impact of the Swiss franc increasing in value. These indicators must also give pause for thought in the international context. All this and more is revealed in the 35th edition of the biannual CFO Survey by Deloitte.
16 October 2018
Deloitte pledges support to Standards of Conduct for Business in Tackling Discrimination against Lesbian, Gay, Bi, Trans, and Intersex people
Deloitte is a proud signatory of the United Nations’ Standards of Conduct for Business to help tackle discrimination against lesbian, gay, bi, trans, and intersex (LGBTI) people.
These standards are consistent with the Global code we hold ourselves to at Deloitte: we respect human rights and do not tolerate harassment or unfair discrimination.
Zurich, 28 August 2018
In the fiscal year ending 31 May 2018, Deloitte Switzerland increased its net revenue by 8.2%, from CHF 439 million to CHF 475 million, marking the continuation of Deloitte’s exceptional growth path over the last decade. The firm’s Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal business areas all contributed to the strong performance. Among the industries driving Deloitte’s growth in FY18 were consumer & industrial products, life sciences and financial services.
Zurich, 26 August 2018
swissVR Monitor II/2018 - Swiss board members: Fixed remuneration is the norm, performance-based the exception
Boards of directors bear the long-term strategic responsibility for a company. In Switzerland, most board members receive fixed remuneration for their work. Variable remuneration dependent on business results or the board member’s personal performance is relatively rare. According to the latest edition of swissVR Monitor, the time required for the fulfilment of duties is the most frequently cited criterion for deciding pay. When it comes to their remuneration, board members are all for transparency: 89% of the 344 Swiss Board members surveyed disclose full details of remuneration within the board, while 70% are in favour of a detailed disclosure to shareholders. The survey results paint an encouraging picture: the prevalence of fixed remuneration and emphasis on transparency are in line with modern corporate governance guidelines.
Zurich, 9 August 2018
According to a survey conducted by professional firm Deloitte, 62 percent of Swiss consumers use a loyalty programme at least once a week, such as Cumulus, Supercard or IKEA Family. Nevertheless, just over one-third (36%) of respondents seldom or never use their points for discounts or benefits. Today's customer loyalty programs must therefore offer more than just collecting points. What seems to be crucial is the overall experience, including interest for consumers, as well as providing tailor-made offers and targeted communications. New digital technologies can also help improve customer interaction and make it more responsive.
Zurich/Geneva, 16 July 2018
Women are underrepresented in the cyber security workforce in Switzerland and worldwide. At the same time the industry is facing a growing global shortage of cyber security professionals. To help organisations bridge this gap, the professional services firm Deloitte launches a Women in Cyber initiative across Europe, Middle East and Africa (EMEA) that brings together clients, experts and colleagues in pursuit of achieving gender parity in cyber security.
Zurich, 12 July 2018
The workplace of the future is flexible and connected – but managers are still failing to set a good example
Almost a quarter of office workers in Switzerland have to find their own workspace in their employer’s offices first thing in the morning, and two-thirds work outside of the office at least part of the time. The increasing flexibility in Swiss offices is a reaction to changing working environments, which are becoming ever more knowledge-intensive, creative and connected. However, it is still the case that the working environment, available technologies, and above all the corporate culture frequently lag behind.
Zurich, 7 June 2018
European football market exceeds €25 billion for the first time as the ‘big five’ leagues continue to drive growth
The European football market has exceeded €25bn in revenue for the first time, according to the 27th Annual Review of Football Finance from the Sports Business Group at Deloitte. The 4% increase from 2015/16 was predominantly driven by the ‘big five’ European leagues, which saw combined revenues grow by €1.3bn (9%) to €14.7bn in 2016/17. Growth was not restricted to those biggest leagues, however, with non-big five leagues also seeing revenue increases, but at an inferior rate to that seen in England, France, Germany, Italy and Spain.
Zurich, 23 May 2018
Zurich, 23 May 2018. To provide a platform for innovative HR projects in Switzerland, a new award – the inHR award ("innovative HR") – has been established by Deloitte Switzerland, the Neue Zürcher Zeitung (NZZ), SAP Switzerland and the University of St. Gallen. This award gives recognition to pioneering work in the area of HR by individuals or teams. The entry period for submissions runs from today until 31 July 2018. The awards will be presented in Zurich on 25 October 2018.
Zurich/Geneva, 21 May 2018
The world’s 100 largest luxury goods companies generated sales of US$217 billion in FY2016, but have been growing at a slower pace than in previous years: The average growth rate stands at 1%, which is 6pp lower than one year earlier, according to the annual Global Powers of Luxury Goods report issued by Deloitte. Switzerland remains one of the strongest luxury goods markets, with three companies in the top 12, excelling especially in luxury watch-making.
Zurich, 18 May 2018
2018 marks the sixth consecutive year that the industry-leading tax publication International Tax Review names Deloitte Switzerland “Tax Firm of the Year”. Deloitte Switzerland was also chosen as “Transfer Pricing Firm of the Year” for the sixth time in the last seven years. Winning these awards stands testimony to the quality and sustainable success of the tax and legal practice of Deloitte Switzerland.
Zurich, 11 May 2018
Switzerland remains the world's largest wealth management centre for international assets. But the air is getting thinner at the top, and other financial hubs are gaining ground. According to the latest Deloitte Wealth Management Centre Ranking, a total of USD 1.84 trillion of international assets were managed in Switzerland at the end of 2017.
Zurich, 03 May 2018
Deloitte report: Nine out of ten Swiss business and HR leaders see artificial intelligence, people data and connected workplace as top trends
Amid concerns about automation, the need for new skills, an aging workforce and tightening labour markets, the make-or-break issue facing companies these days is the need for realignment among the C-suite to focus on business’ evolving role in wider society. In its 2018 Global Human Capital Trends report, “The Rise of the Social Enterprise,” Deloitte also examines the increasing expectations of the individual, how the C-suite itself must now operate as a team and the breathless pace at which technology is shaping organisations’ human capital priorities.
Zurich, 22 March 2018
The professional services firm Deloitte North West Europe (NWE) today announces the appointment of Rob Wainwright as a senior partner in its European cyber security practice, where he will help lead and grow the team and business with clients. He will also be engaged in areas of related risk, such as financial crime and fraud. Rob will join the firm in June 2018 and whilst he will continue to be based in the Netherlands, he will work with clients across Europe including Switzerland.
Zurich, 08 March 2018
In celebration of International Women’s Day and as a member of the Advance Women in Business initiative, Deloitte Switzerland expands its ambitions to not only achieve a 30% female leadership by 2020 but furthermore to increase the number of women in technology roles by 5% within the next year.
Zurich, 18 February 2018
Latest Swiss board of directors’ survey shows a clear call for more diversity and digital know-how in the boardroom
Diversity is the top priority for new appointments to the boards of Swiss companies: this includes new skills, different experience, and diverse personalities as well as digital savvy. The latest issue of the Swiss board members’ survey swissVR Monitor also reveals that the workload is increasing for decision-makers on board level and that their tasks are becoming more diverse. According to the 448 Swiss board members surveyed, staffing issues and compliance in particular have become increasingly important topics. When it comes to their outlook for the Swiss economy, board members are quite positive.
Zurich, 12 February 2018
Professional services firm Deloitte Switzerland has appointed a new senior Audit & Assurance partner: Alessandro Miolo joined the firm on 1 February 2018. Deloitte’s dynamic Audit & Assurance practice is well-positioned in the market as last year’s major audit mandate wins of Panalpina and LafargeHolcim clearly indicate. Playing a key role in the Audit & Assurance team, Alessandro will help further build Deloitte’s CFO and Board networks, widen its scope of assurance services and develop the audit of the future. Deloitte continues to deploy cutting-edge technologies to deliver a more meaningful audit.
Zurich, 30 January 2018
Professional services firm Deloitte Switzerland has named Andrew Winters as the new Managing Partner, Risk Advisory, effective 1 January 2018. He has joined the Swiss practice from Deloitte UK and has been appointed as a member of the Swiss Executive team. His appointment alongside Marc Grueter, who joined the firm as partner in December 2017, underlines the firm’s ambitions to further strengthen its Risk Advisory practice.
Zurich, 23 January 2018
The 20 highest earning football clubs in the world generated €7.9bn of revenue in 2016/17, an increase of 6% on the previous year, according to the 21st edition of the Football Money League from Deloitte, the business advisory firm.
Zurich, 15 January 2018
The Top 250 global retailers generated aggregated revenues of USD 4.4 trillion in fiscal year 2016*. This represents a composite growth of 4.1%, according to the Global Powers of Retailing 2018 report from Deloitte. Europe’s share of Top 250 revenues dropped from 39.4% to 33.8% in just 10 years. The gap versus North America is widening and retailers from Asia are gaining ground. In contrast to this, the four Swiss retailers listed in the report all moved up.
Zurich, 19 December 2017
RegTech is the future of banking: Deloitte and Finform automate the process of opening customer bank accounts
The Swiss fintech pioneer and automation specialist Finform and the compliance experts from professional services firm Deloitte Switzerland are joining forces to simplify financial service providers’ compliance processes. The integration of the range of regtech services offered by Deloitte Managed Services and Finform makes it possible to almost completely automate the process of opening customer bank accounts (KYC).
Zurich, 16 November 2017
Digital payment in Swiss retail: Majority of customers already use self-checkout in supermarket, mobile payment on the rise
Paying by smartphone is becoming more and more fashionable in Swiss retail: 17% of Swiss consumers already pay by smartphone and almost as many want to try it out soon. Twint, Apple Pay and Co. still account for only a low share of retail sales, though. The new study conducted by professional services firm Deloitte “Goodbye wallet, hello smartphone?” also shows that the majority of Swiss consumers scan their products themselves, using automated systems to pay for their shopping. Over two thirds of surveyed consumers use self-checkouts, and more than one fifth even every time they visit a supermarket.
Zurich, 14 November 2017
Deloitte CFO Survey: Swiss CFOs expect a boom – European firms hopes for a swifter interest rate policy change
Prospects for Swiss companies and the economy are better than at any point since the franc shock. The latest CFO Survey conducted by professional services firm Deloitte shows one record figure after another: Swiss CFOs assert that company revenues, margins and investments are all on the rise, and the economy as a whole is further reinvigorated. Among our European neighbours, companies in France appear particularly fired up. Also, CFOs in the eurozone are less than impressed by the European Central Bank’s interest rate policy. Meanwhile, UK indicators are pointing downwards.
Zurich, 27 September 2017
According to the Deloitte Swiss Watch Industry Study 2017, digital is at the heart of the Swiss watchmakers’ business strategies. Optimism is back; more than half of watch executives surveyed are optimistic about the future of the Swiss watch industry for the next 12 months, compared to only 2% last year. The market remains challenging, but the industry is tackling its transformation with Digital, Swiss made legislation, the introduction of new products and Smartwatches as ingredients of the change.
London, 14 September 2017
Deloitte Global today reported aggregate member firm revenue of US$38.8 billion for the fiscal year ended 31 May 2017 (FY2017), representing a 7.1 percent revenue increase in local currency terms or a US$2 billion revenue increase and 8.3 percent two-year CAGR.
Zurich, 29 August 2017
The professional services firm launches its Annual Review for 2017. In a market characterized by economic uncertainty, regulatory change and digital transformation, Deloitte’s ability to solve complex problems for clients has led to growth in each of its five core businesses. This Swiss practice has increased net revenue by 13%, to CHF 438 million, in the fiscal year ended 31 May 2017. The firm’s decade-long double-digit growth trajectory continues to be driven by the impressive performance of its Advisory services, supported by a strengthening position in both Audit & Assurance and Tax & Legal. Deloitte continues to invest energetically in the next generation, having launched a number of new solutions, established various landmark market alliances and created over 130 new jobs in Switzerland.
Zurich, 26 August 2017
Optimising processes is still the top priority for the board members of Swiss companies, according to the latest swissVR Monitor, a survey conducted every six months by swissVR in collaboration with Deloitte and the Lucerne University of Applied Sciences and Arts. Boards are though giving more and more attention to digitalisation and talent topics.
Zurich, 25 July 2017
Switzerland's CFOs continue to send out positive signals. According to the current summer edition of the Deloitte CFO Survey, they are predominantly upbeat about the prospects for the economy and the success of their own companies. Swiss CFOs' expectations on their corporate indicators in the 12 months ahead are confident, while the outlook for new investment and higher employee numbers has also improved. In particular, investments in digital business models and in promoting employees' digital skills are being stepped up – although at the same time digitalisation is increasingly perceived as a risk.
Zurich, 12 July 2017
Digital payment systems gaining ground: 42% of Swiss consumers want to pay using their mobile phone in the future, while 64% want to use self-checkout machines
Clearly the importance of digital devices for buying and paying for products is increasing apace. A new study by Deloitte on the impact of digitalisation on customer behaviour in Swiss retail provides evidence for this trend.
Zurich, 28 June 2017
The digital consumer: Almost one-third of Swiss retail sales influenced by the use of digital devices
Digitisation has had a significant impact on customer behaviour in Swiss retail in the last few years. Product sales are increasingly shifting to the internet, generating high growth rates in online sales: in 2016, the value of the merchandise bought online in Switzerland rose by 6.1% to CHF 6.5 billion. Although online sales still account for a relatively modest 7% of overall retail sales in Switzerland, the trend is on an upward trajectory.
Zurich, 13 June 2017
RegTech, the future of banking: Deloitte and Appway launch collaboration on out-of-the-box compliance solutions
Appway, the Swiss-based global software company, and compliance expert and leading professional services firm Deloitte Switzerland have partnered up to launch four managed services offerings. This collaboration combines the best of digitization and regulatory expertise to offer innovative and reliable RegTech solutions to the Swiss financial services industry.
Zurich, 19 May 2017
2017 marks the fifth consecutive year that the industry-leading tax publication International Tax Review (ITR) has named Deloitte ʺTax Firm of the Yearʺ in Switzerland. Deloitte was also chosen as "Transfer Pricing Firm of the Year" for the fifth time in the last six years.
Zurich, 18 May 2017
Europe’s chief financial officers (CFOs) are reporting higher levels of optimism, increased risk appetite and a shift towards more expansionary business strategies, according to Deloitte’s latest European CFO Survey.
Zurich, 16 May 2017
Switzerland remains one of the global leaders in luxury goods thanks to its resilience and brand heritage
Consumers in emerging markets such as China, Russia and United Arab Emirates continue to drive luxury market growth with 70% of consumers claiming to have increased their spending in the last 5 years, compared to 53% in the more mature markets (EU, US and Japan).
Zurich, 11 May 2017
Automation is changing the way we work – so how can the Swiss workforce, companies and educational system adapt?
According to the latest Deloitte study on the impact of automation on the Swiss economy, more jobs have been created than lost thanks to automation in the past 25 years. This trend is likely to continue and the structural transformation of the job market will also likely accelerate.
Zurich, 5 May 2017
Swiss CFOs continue to be optimistic about economic prospects and about their own companies' performance. The spring 2017 edition of the Deloitte CFO Survey thus shows a trend that has now stayed intact for two years.
Zurich, 31 March 2017
On February 12 2017, the Swiss electorate rejected the Corporate Tax Reform III (CTR III) in its proposed form. On the occasion of the quarterly CFO Survey of Deloitte, more than 100 Chief Financial Officers (CFOs) in Switzerland were asked shortly after the vote what they now expect from a revised tax reform.
Zurich, 22 March 2017
The Swiss economy is among the most innovative in the world. Digital transformation and the drive for innovative products and services could be a unique opportunity for Switzerland. The Swiss business location has the potential to take advantage of digitalisation and become significantly more competitive and future-ready. Companies are well placed to meet the requirements and challenges of digitalisation and make the most of the opportunities. The Deloitte industry study ‘Digital future readiness’ shows, which key skills and changes, are needed for companies to facilitate the digital transformation.
Zurich, 8 March 2017
The benefits of gender mixed leadership teams are well known: higher productivity, more innovation power, longer-term business impact and sustainability in our workplaces. In March 2017, for the first time in Switzerland, up to 40 CEOs and leaders united under the Advance Women in Swiss Business umbrella to publicly commit to concrete gender equality goals.
3 February 2017
Deloitte CIO Survey: Pressure on IT departments to drive innovation mounting, yet CIOs not fully equipped to deliver
Swiss IT leaders must start into 2017 by vigorously driving innovation and adopting a more strategic role in their organizations. According to the latest Deloitte CIO Survey, 59% of CIOs surveyed in Switzerland state that the priorities for their IT organisation have clearly shifted. The demand within organizations for technology-enabled innovation is far higher than ever before.
18 January 2017
Deloitte in Switzerland has secured Prime 2, a new development in the Zurich Hardbrücke business area right next to the Prime Tower, as its new flagship Swiss headquarters. Deloitte is the leading anchor tenant of the new building, which is due to be completed around 2020. The new headquarters will support Deloitte’s bold growth ambitions as well as the firm’s flexible and innovative ways of working.
16 January 2017
The top 250 global retailers generated aggregated revenues of US$4.31 trillion in fiscal year 2015, representing composite growth of 5.2 percent, according to the Global Powers of Retailing 2017: The art and science of customers report from Deloitte Global.
10 January 2017
The economic upturn seen in recent quarters is continuing its trend.
19 December 2016
Since the beginning of the current financial year (start 1 June 2016), Deloitte has launched various initiatives and new policies to strengthen the firm’s talent agenda.
15 November 2016
Despite continued uncertainty and concerns about the economic and business environment, Europe’s chief financial officers (CFOs) remain optimistic about the potential for their businesses in the coming year, according to Deloitte’s latest European CFO Survey.
31 October 2016
For the first time since the floor on the franc exchange rate was abandoned, more than half of Switzerland’s CFOs are optimistic about their companies' financial performance.
27 October 2016
Automation is transforming the industries of the Swiss economy, creating employment and innovation opportunities
Deloitte’s latest report on automation, Transforming the Swiss economy, shows that automation will continue to have an overall positive impact on the Swiss labour market. While some jobs will be replaced, many more new jobs will be created as automation cuts the cost of many goods and drives up wages, increasing demand and creating employment.
17 October 2016
Fintech needs Regtech: To reduce costs and drive innovation, financial institutions need to break down value chain
In today’s complex and rapidly evolving landscape, financial service providers face more compliance burdens than ever before. The rising costs and complexity of building and maintaining market-specific regulatory processes are a significant challenge for Swiss banks and asset managers – next to the cost and innovation challenges they are already facing. Working closely with established partners, Deloitte has launched a new platform to automate and outsource regulatory processes: Deloitte Managed Services.
04 October 2016
Deloitte targets accelerated growth with additional €200m investment in the creation of North West Europe firm
Deloitte today announces that its Belgian, Danish, Dutch, Finnish, Icelandic, Norwegian and Swedish member firms will combine with the UK and Swiss firm to create Deloitte North West Europe. The move will see Deloitte invest an additional €200m over the next three years in its capabilities across the region to enhance its service to its global, national and private market clients and to create the best development opportunities for its people.
28 September 2016
Apple® and Deloitte today announced a partnership to help companies quickly and easily transform the way they work by maximizing the power, ease-of-use and security the iOS platform brings to the workplace through iPhone® and iPad®. As part of the joint effort, Deloitte is creating a first-of-its-kind Apple practice with over 5,000 strategic advisors who are solely focused on helping businesses change the way they work across their entire enterprise, from customer-facing functions such as retail, field services and recruiting, to R&D, inventory management and back-office systems.
27 September 2016
According to the Deloitte Swiss Watch Industry Study 2016, the number of watch executives who are pessimistic about the outlook for the Swiss watch industry has doubled since 2015, peaking at 82%. Weaker foreign demand poses the key challenge at the moment – and the industry believes this will remain in the next 12 months.
30 August 2016
Deloitte in Switzerland has increased gross revenue by 24% to CHF 660 million in the fiscal year ended 31 May 2016. The sixth consecutive year of double-digit percentage growth was driven by the significant success of the firm’s Advisory services and continued strong performance within its Audit and Tax & Legal practices. To maintain this level of growth and the positive impact on its clients, Deloitte is investing heavily in the next generation, creating new jobs and innovative service offerings in the process.
25 July 2016
For the first time since the end of 2014, a majority of Swiss CFOs rate the Swiss economic prospects over the next 12 months as positive. According to the latest Deloitte CFO Survey, the CFOs think that the financial prospects for their companies will remain bright too.
21 June 2016
Concerns about the consequences of the UK potentially leaving the EU have now reached company managers in Switzerland.
31 May 2016
Global luxury brands need to respond smartly to new key market forces and raise their game when serving the evolving expectations of the luxury consumer, according to the third annual Global Powers of Luxury Goods report issued by Deloitte.
27 May 2016
The International Tax Review (ITR) has named Deloitte ʺTax Firm of the Yearʺ for the fourth year in a row. Deloitte was also chosen as "Transfer Pricing Firm of the Year", clearly marking the impact of the firm’s tax and legal advisory services in Switzerland.
25 May 2016
Deloitte’s Debt & Rating Advisory practice aims at facilitating funding access, increasing funding capacity and optimizing funding costs for companies of all sizes, as well as helping corporates manage their public ratings – all key pillars of a company’s business development and success.
11 May 2016
Majority expect little to no effects on their own companies from possible TTIP or Brexit, but see the end of the Schengen agreement as possible threat.
21 March 2016
Simon Owen has been appointed the new Chief Executive for Deloitte in Switzerland, effective 1 April 2016. He will succeed Howard Lovell who, after a career of more than 30 years in professional services, retires from Deloitte at the end of May.
17 February 2016
Workplace of the future: 28% of Swiss workforce work from home, 25% as freelancers – and the trend is on the rise
According to a new study by Deloitte, one in four Swiss citizens currently work as freelancers. Of the remaining 75%, one third would like to do so in the next year. The rise of the sharing economy – which incites people to offer and provide services via online platforms – is the main driver of the freelancing trend. At the same time, knowledge-intensive careers and mobile working are becoming increasingly important.
8 February 2016
KMU weiterhin Motor des Schweizer M&A-Marktes trotz insgesamt deutlichen Rückgangs der Transaktionen
Das Jahr 2015 wurde global von einer Rekordzahl von Übernahmen und Fusionen geprägt, allerdings unter stark rückläufiger Beteiligung Schweizer KMU (-19%). Gleichwohl sind innerhalb der Schweiz mehrheitlich KMU an M&A-Aktivitäten beteiligt. Schweizer Small- und Mid Cap-Unternehmen konnten ihre Bewertungen trotz eines turbulenten Jahres auf einem sehr hohen Niveau halten – gar dem höchsten seit 2008.
21 January 2016
The 20 highest earning football clubs in the world generated €6.6bn of revenue last season, an increase of 8% on the previous year, according to the 19th edition of the Football Money League from Deloitte, the business advisory firm.
19 January 2016
Top global retailers enjoy a year of revenue growth despite a bumpy economic environment and digital disruption
The top 250 global retailers generated aggregated revenues of USD 4.5 trillion in fiscal year 2014, representing a steady growth of 4.3% compared with 4.1% in 2013, according to the Global Powers of Retailing 2016 from Deloitte. This is a positive signal for the industry, which had witnessed revenue declines in previous years.
14 January 2016
Uncertainty overshadows outlook for 2016, though Swiss CFOs look to move forward and focus on growth
Almost one year after the Franc shock, Swiss CFOs remain downbeat about the outlook for the country’s economy. They do have an increasingly brighter outlook for their own companies, as the latest edition of the quarterly Deloitte CFO Survey reveals.