Swiss banks have earned a reputation around the world for providing sophisticated and discreet banking services. The Two Big Banks, namely Credit Suisse and UBS , have extensive branch networks both throughout Switzerland and in many international centers. Banks are licensed by the Swiss Federal Government through its Banking Commission , and may operate throughout the country. A number also have offices or other representation in foreign countries. Among the approximately 400 licensed banks in Switzerland are the Swiss branches of banks which have their headquarters elsewhere.
Some banks specialize in only a few banking services, whereas others provide a wide range.
As in most of continental Europe, individuals usually buy and sell stocks and bonds through their banks. The Swiss banks have a long reputation for managing investment portfolios for their clients, and providing other services such as estate planning, wealth management, trust companies, etc., for individual customers. Private banks are those which are not incorporated, and hence the entirety of their partners' assets are available to meet the liabilities of the bank. They are primarily associated with portfolio management for private clients. Banks in most countries are prohibited from divulging information about their clients, and the provisions of the Swiss law follow the same lines.