Winner of the Swiss Press Photo Award 2012:  Bank on Us. Now on Show at Flux Laboratory in Geneva, until December 23rd

A long term project concerning a $7,000 billion secret - the Swiss banking Industry, now under pressure. Switerland hold a third of all global offshore assets, shored up by conservatism and strict banking secrecy laws. Just two banks - UBS and Credit Suisse - dominate this industry, covering 50% of the market. Following major losses, scandals, the breeching of banking secrecy laws - as well as bankers under inditement in the US, and raids in both Germany and Italy, greater regulation has been imposed by Swiss politicians.  Shareholders and the general public alike are increasingly disaffected with the industry, and foreign governments are increasing pressure on the Swiss authorities to have access to hidden assets. Many believe that the end of an era is in sight, and certain banks are making contingency plans to relocate their businesses. The resignation in late September of Oswald Grubel, the CEO of Switzerland's largest bank UBS, following a massive single trading loss in the bank's investment division, has done little to ease the general sense of misgiving in and around the industry. The forced resignation in January of Philipp Hildebrand, chairman of the Swiss National Bank, following accusations of currency speculation, has only increased the air of uncertainty. 

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