Publication of the Swiss Canadian Chambers of Commerce ... · Swiss Canadian Chamber of Commerce (Ontario) Inc. 756 Royal York Road • Toronto, Ontario M8Y 2T6 Tel: (416) 236-0039

Publication of the Swiss Canadian Chambers of Commerce Ontario and QuebecPublication des Chambres de Commerce Canado-Suisse de l’Ontario et du Québec

August/September Août / Septembre 2014

www.swissbiz.ca www.cccsqc.cawww.swissbiz.ca www.cccsqc.ca

FFeature/Reportageeature/Reportage:: Energy / Énergie Energy / Énergie

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FEATURE / REPORTAGE

Energy / Énergie

4 Business Opportunities for Swiss Companies in Alberta’s Booming Economy 6 Nanotechnology and Energy 7 Canadian Energy Sector – Fast Facts 9 Hilti Canada: Reinventing your Business Model 15 UBS Commodity Markets Update

BUSINESS AND OTHER NEWSACTUALITÉS ÉCONOMIQUES ET D’AFFAIRES

10 Tribeca Insights: China: New Frontier for Swiss Banking 12 The Employer’s Edge 13 A Little Humility Goes a Long Way 17 Minimum Wages in Canada and in Switzerland 20 Business News 28 Trade Fairs

CHAMBER NEWSINFORMATIONS DE VOTRE CHAMBRE

2 President’s Message SCCC/Upcoming Events 3 Message du Président CCCS / Événements à venir 15 Quote of the Month 17 Scholarship Fund 19 SCCC New Members 20 Nouveaux Membres – CCCS 21 La Suisse à Montréal en Lumière 2015,

le festival hivernal de Montréal 22 Golf Tournament 2014 in Association with CGCIC 24 Le golf avec votre Chambre; une sortie agréable pour tous! 25 Soccer (Football) World Cup 2014 26 Travel News 28 SCCC Group Health Plan

Publication of the Swiss Canadian Chambers of Commerce Ontario and QuebecPublication des Chambres de Commerce Canado-Suisse de l’Ontario et du Québec

Oilfi eld Pipeline

IN FO SU I SS E2

BOARD OF DIRECTORS • 2014 – 2015

President / Director:

Ernst NotzNacora2 Hunter Avenue, Toronto ON M6E 2C8Tel: 416-784-2872Email: [email protected]

1st Vice-President/Director:Julien FavreUBS Bank (Canada)154 University Avenue, Toronto ON M5H 3Z4Tel: 416-345-7033Email: [email protected] Website: www.ubs.com/1/e/canada

Treasurer/ Director:Monica Stevens-WyssTrowbridge Professional Corporation25 Adelaide St. E.; Suite 1400; Toronto, ON M5C 3A1Phone: 416-214-7833 ext.104Email: [email protected] Website: www.trowbridge.ca

Secretary & Legal Counsel:

Bernard LetteLette LLP20 Queen Street West, #3300, P.O. Box 33, Toronto ON M5H 3R3Tel: 416-971-4898Email: [email protected] Website: www.lette.ca

Past President / Director:

Philipp GyslingMesh Innovations Inc.174 Hallam Street, Toronto ON M6H 1X5Tel: 416-871-8159Email: [email protected]: www.meshinnovations.com

Directors:

Brett BermanIMD Alumni Club of Canada107 Cottingham Street, Toronto, ON M4V 1B9Tel: 416-464-9422Email: b.berman@intifi n.com

Rudi BlatterLindt & Spruengli (Canada) Inc.181 University Avenue, Suite 900, Toronto ON M5H 3M7Tel: 416-351-8566Email: [email protected] Website: www.lindt.com

Heidy LawranceWeMakeBooks.ca238 Willowdale Ave., North York ON M2N 4Z5Tel: 416-733-1827Email: [email protected]: WeMakeBooks.ca

Sandra LeubaRBC Wealth ManagementCINEBOXX Film & Television Inc.136 Curzon Street, Toronto ON M4M 3B5Tel: 416-616-4251Email: [email protected]

Marianne Mian-KrengerRe/Max Legacy Realty Inc. Brokerage2485 Taylorwood Dr., Oakville, ON L6H 0E1Tel: W: 905-272-5000 Tel: H: 416-820-2003Email: [email protected]

Ronnie MillerHoffmann-La Roche Ltd2455 Meadowpine Boulevard, Mississauga ON L5N 6L7Tel: 905-542-5522Email: [email protected] Website: www.rochecanada.com

Christoph OehySwiss Reinsurance Company150 King Street West, Toronto, ON M5H 1J9Tel: 647-775-2443Email: [email protected]: www.swissre.com

Daniel OehySwissmar35 East Beaver Creek Rd, Unit 6, Richmond Hill, ON L4B 1B3Tel: 905-764-1121Email: [email protected] Website: www.swissmar.com

Urs UhlmannZurich400 University Avenue, 25th Floor, Toronto ON M5G 1S7Tel: 416-586-2959Email: [email protected] Website: www.zurich.ca

Honorary Director:

Kathy UtigardHonorary Consul of Toronto193 Riverview Street, Oakville, ON L6L 5S3

Tel: 905-845-1259E-mail: [email protected]

Executive Assistant:

Patricia Keller Schläpfer – SCCC756 Royal York Road, Toronto ON M8Y 2T6Tel: 416-236-0039 Fax: 416-551-1011E-mail: [email protected] Website: www.swissbiz.ca

Typesetting and Assembly: Nancy Raitt @ corptype

Printed by: J. B. Deschamps

Dear Members,

Both Chambers had a very busy month of June organizing various events. We both had our golf tournament and some world cup soccer related fun gatherings. Especially the golf tournament required a lot of preparation and detail attention; I would like to thank our own golf committee for their dedicated successful work.

Our two chambers met at the residence of Ulrich Lehner, our departing Ambassador. We would like to thank him for all his support during his stay in Canada and we wish him much success at his new demanding assignment in Paris with the OECD. His successor, Ambassador Beat Nobs, will arrive some time in September and we are looking forward to welcoming him at latest at our Dinner & Dance on November 15th which is now in preparation stage. The social, pleasant lunch meeting in Ottawa was very benefi cial and lead to discussion on cooperation and common challenges. It was nice to meet with our friends from Montreal. Please see the various articles in this issue.

In cooperation with the IMD Alumni Club and the International University Clubs of Toronto we were able to profi t of the visit of a member of the Executive Board (Mr. Meyrat) who gave us a valuable presentation on how Hilti, Liechtenstein based manufacturer of high end construction tools and fasteners, reinvented their business model and introduced a new fl eet management program to differentiate itself from its competitors.

Our various committees are working on the SCCC future orientation focusing on e.g. how to facilitate and promote business, engage members to network and broaden our membership base with different offerings incl. social media, succession planning etc. We will report on this in one of our next issue.

SCCC also dealt with the anti-spam legislation (CASL) introduced effective July 1, 2014, and we are in the process of obtaining consent to send a “commercial electronic message” (CEM) to our interested parties.

The feature articles in this bi-monthly publication focuses on “Energy”. You can read about the Business opportunities for Swiss companies in Alberta’s booming economy; or how Nanotechnology and in particular several nano-materials have become interesting candidates for solar energy harvesting, largely inspired by the Grätzel Cell developed at the Swiss Institute of Technology in Lausanne; as well as a market update on “Energy”.

Thank you in advance for participating in our upcoming fall events as per the schedule below.

See you soon!

Yours sincerely,

Ernst Notz, President

Swiss Canadian Chamber of Commerce (Ontario) Inc.756 Royal York Road • Toronto, Ontario M8Y 2T6Tel: (416) 236-0039 • Fax: (416) 236-3634 • E-mail: [email protected] • www.swissbiz.ca

2014 COMING EVENTS

August 19 Pub Night with the British Chamber

September 20 CSCA Event at Shaw Festival: Cabaret Musical

November 15 Gala Dinner Dance

Further Information can be found on www.swissbiz.ca/upcoming_events

Dates above are subject to change

AU G U ST/SE P T E M B E R 2014 3

La Chambre de commerce canado-suisse (Québec) Inc.Swiss Canadian Chamber of Commerce (Quebec) Inc.

1572 Avenue Docteur Penfi eld, Montréal, Qué. H3G 1C4 • Tél: (514) 937-5822 • Fax: (514) 954-5619 • E-mail: [email protected] • Web site: www.cccsqc.ca

CONSEIL D’ADMINISTRATION / BOARD OF DIRECTORS2013 – 2014

Président / President

M. Christian G. DuboisPrésidentOnix internationalTel: (514) 624 5740courriel:[email protected]

Secrétaire / Secretary

Me Monica SchirdewahnAvocate / Lawyer Lette & AssociésTel: 514.871.3838, # 213 E-mail: [email protected]

Vice-présidents / Vice-Presidents

Mr. Bruno SetzConsultantTel: 514.767.5123E-mail : [email protected]

Mr. Olivier RodriguezGestionnaire de portefeuilleMirabaud Canada Inc.Tel: 514.393.1690E-mail : [email protected]

Trésorier / Treasurer

Mr. Othmar WidmerConsultation WidmerTel: 450.973.2864E-mail: [email protected]

Directeurs / Directors

Mme Mina CicaleDirectrice GénéraleSwiss International Air Lines Ltd.Tel: 514.954.5600E-mail: [email protected]

Mr. Christian G. Dubois PresidentOnix InternationalTel: [email protected]

Me Jean-Marc FerlandAvocatFerland, Marois, Lanctot Tel: 514.861.1110E-mail: [email protected]

Mr. Moritz GruberConsultantTel: 450.264.6278 E-mail: [email protected]

Mme Marie-Josée Loiselle Présidente Nuno ID Tel: [email protected]

Mr. Jean-Aymeri de Magistris Directeur Ventes et Marketing Stambac InternationalTel : 514.564 6798E-mail: [email protected]

Mr. Paul WieserPDG pour le CanadaBusch Vacuum Technics Inc.Tel: 450.435.6899E-mail: [email protected]

Directeur honoraire / Honorary Director

Mr. Beat Kaser Consul général de SuisseTel: 514.932.7181 E-mail: [email protected]

Liaison au Consulat général de Suisse

Mr. Paolo Bezzola Consul Tel: 514.932.7181E-mail: [email protected]

Conseiller juridique / Legal Counsel

Lette & AssociésTel: 514.871.3838, # 213 E-mail: [email protected]

Responsable de l’administration / Administration Offi cer

Mme France Nadeau Tel: 514.937.5822 E-mail: [email protected]

Chères, chers membres,

C’est avec beaucoup de fi erté que j’ai accepté la présidence de la Chambre pour un mandat de deux ans soit de 2014 à 2016. Je remercie les membres qui ont participé à notre dernière assemblée générale annuelle pour leurs témoignages de confi ance.

Je ne peux certainement pas prendre ma charge au poste de président sans tout d’abord remercier chaleureusement Jean-Serge Grisé qui m’a précédé. Jean-Serge, par sa vision d’une chambre plus active sur la scène commerciale avec son « virage affaires », a permis à notre chambre de recruter de nouveaux membres grâce à ses nombreuses activités telles que les 5 à 7 conférences ainsi que le style entrevu avec notre bon ami Simon Durivage.

Et n’oublions surtout pas tous les membres du conseil qui ont fait un travail extraordinaire sous la présidence de Jean-Serge, merci à vous tous.

Je prends l’engagement de continuer ce beau travail en organisant encore d’autres activités durant l’année en cours.

2014 est une année intéressante pour notre chambre avec la création ce printemps du SWISS BUSINESS HUB qui va ainsi permettre une encore meilleure collaboration avec les autorités suisses et ainsi favoriser les échanges commerciaux entre les deux pays. Cette collaboration est d’autant plus appréciée qu’elle s’ajoute aux relations privilégiées que nous entretenons déjà avec notre Consul général, Monsieur Beat Kaser, ainsi que toute son équipe.

Il me reste un souhait profond pour cette première tranche de mandat: augmenter la participation à nos activités de réseautage et vous demander de poursuivre vos efforts dans le recrutement de nouveaux membres. Une participation soutenue est le gage d’une Chambre dynamique, à l’écoute de ses adhérents et ouverte sur l’avenir.

Je vous souhaite un excellent été et au plaisir de vous revoir lors de notre cocktail d’ouverture le 10 septembre prochain.

Christian G. Dubois

Président du conseil d’administration

ÉVÉNEMENTS / UPCOMING EVENTS 2014

10 septembre / September 10th Cocktail d’ouverture / Opening Cocktail

19 novembre / November 19th Soirée Fondue / Fondue Night

Des événements supplémentaires seront ajoutés au fur et à mesure

Additional events will be added as soon as the dates will be known

Dates sujettes à changement / Dates are subject to change

INFORMATION et détails/and details : www.cccsqc.ca ou/or (514) 937-5822

IN FO SU I SS E4

Energy / Énergie

BUSINESS OPPORTUNITIES FOR SWISS COMPANIES IN ALBERTA’S BOOMING ECONOMYAlberta is energy. The province has 168

billion barrels of established crude oil

reserves and is the third biggest resource

holder in the world, behind Saudi Arabia and

Venezuela. Alberta also contributes 80% to

national gas production, resulting in Canada

being the third biggest producer globally.

Since 2010 Alberta’s economy has been

booming, mainly because of the develop-

ment of the oil sands. In 2013, the province

attracted more than a quarter of all invest-

ments in Canada, surpassing Ontario for

the fi rst time. This year investments are

expected to total $114 billion, with about

half of this fl owing into projects in the oil

and gas sector.

In recent years the population of Calgary

and Edmonton has grown rapidly. Both cities

have reached about 1.2 million inhabit-

ants. The growing population stimulated

the housing sector, but also increased the

demand for services and consumer goods.

Last year Lindt Outlet Boutiques– as an

example of a Swiss company - opened shops

in Calgary and Edmonton. Great opportuni-

ties also exist in healthcare, waste man-

agement (‘waste-to-energy’ and biogas),

water supply and wastewater treatment

facilities.

Calgary, the centre of the Canadian oil

and gas industry, has evolved into a thriv-

ing business hub. In 2012, the head offi ces

AU G U ST/SE P T E M B E R 2014 5

of 135 companies, each with a turnover of

more than CAD$ 100 million, were located

here. Calgary now ranks, in terms of

company headquarters, as number two in

Canada behind Toronto.

New high-rises are being built in Calgary

and Edmonton to accommodate the increas-

ing demand for offi ce space. They are often

certifi ed to LEED standards. In older offi ce

buildings mechanical installations, heating

and cooling systems etc need to be replaced.

These projects create business opportunities

for companies like Schindler Elevator Corp.

The rapid spread of the residential areas

in recent years (“urban sprawl”) led to infra-

structure problems. New roads are being

built and public transport systems need to

be expanded. There is a greater need for

effi cient traffi c management systems.

Of the $57 billion expected to be

invested this year in the oil and gas industry,

$33 billion will fl ow into projects in the oil

sands. It may be a surprise that only 20% of

Alberta’s bitumen reserves can be produced

from the well-known surface mines. The

other 80% are buried under a thick surface

layer of rock and have to be accessed by

so-called in situ methods: Horizontal wells

are being drilled through which steam is

pressed into the subsurface. The heat of the

steam liquefi es the bitumen and the result-

ing bitumen/water mixture can be pumped

to surface for further processing.

The volumes produced by the in situ

industry are rapidly growing and in 2015

will surpass the quantities from the open pit

mines. The in situ production, however, is

very expensive and requires vast amounts of

energy and water. The costs and environmen-

tal footprint are being reduced by the re-use

of wastewater, harnessing of process heat

and reducing CO2 emissions(‘cleantech’).

The in situ production is technologically

challenging and requires a wide range of

sophisticated equipment. This was very

evident at the Global Petroleum Show in

Calgary in June 2014, the world’s largest

energy event, where more than 2000 com-

panies exhibited their pumps, compressors,

process equipment, electronic measuring

devices, valves and pressure vessels in the

large exhibition venue of the Stampede

grounds. Among the exhibitors were com-

panies from Switzerland and Liechtenstein

like ABB Inc., Burckhardt Compression,

Who will provide the healthcare that our ageing populations need, and the quality of life they expect? You know the issues better than the back of your own, elegantly ageing hand. And so do we. For example, right now in the US we’re working with clients to combine their expert market knowledge with our risk assessment capabilities. The result? Aff ordable private insurance that will not only provide retirees with comprehensive medical cover for the rest of their lives – but peace of mind for everyone concerned. Especially him. We’re smarter together.

www.swissre.com/info2

Yourin-depth

knowledge

Ourrisk

assessment

Hisquality of life

IN FO SU I SS E6

Endress+Hauser, the Hilti Group, Mettler

Toledo and Panalpina Inc. The value of the

imports of manufactured goods for the oil

sand industry amounts to $5 billion per year

and is expected to grow steadily.

Several Swiss companies have their sub-

sidiaries in Alberta. ABB Inc., for example,

concentrates on power transmission and

distribution, as most of the energy con-

sumed in the oil sands comes from gas fi red

power plants. Endress+Hauser is a supplier

of industrial measurement and process auto-

mation equipment. Their services allow for

optimising the economic effi ciency, environ-

mental performance and safety of industrial

processes.

Relatively new to Alberta is OTI Greentech

AG, a company specializing in environmen-

tally responsible cleaning solutions for

storage tanks. Other products can be utilized

for oil spills and land remediation. The

company also offers a range of high perfor-

mance chemicals for hydrocarbon recovery.

They allow maximizing the recovery of oil

from conventional and non-conventional

reservoirs, including oil sands and shales.

Sulzer Ltd. maintains a major service

centre in Edmonton, where all types of rotat-

ing equipment are repaired and refurbished,

and solutions can be provided for a wide

range of hydraulic, mechanical, and metal-

lurgical problems.

Companies from the fi nance and com-

modities sector in Switzerland are becoming

increasingly visible in Calgary. Credit Suisse

expanded their business in recent years and

their ‘Canada Energy Group’ is located here.

In July 2014, Glencore XstrataPlc took over

Caracal Energy Inc., an exploration company

based in Calgary with activities in the African

Republic of Chad. The oil trader Mercuria

Energy Group is on the way to becoming a

major player, after buying JPMorgan’s physi-

cal commodities business earlier this year.

During the Calgary Stampede in early July,

their fl ags and signs were visible all over the

Stampede grounds.

By Mr. Andreas Bayer, Honorary Consul, Consulate of Switzerland, 4053 Edgevalley Landing N.W., Calgary, AB, T3A 5H5, [email protected] – T. + 1 403 208 3296. ■

NANOTECHNOLOGY AND ENERGYThis might sound like another buzz word

competition. Yet some very practical impli-

cations arise from linking the two concepts.

Nanotechnology can potentially provide

low-cost and scalable solutions to greener

energy production and storage. At the same

time, certain types of nano-particles might

be extremely damaging to the environ-

ment and human health. As always, new

technologies come with their bundle of

opportunities, threats and regulatory uncer-

tainty. Nanotechnology is no exception. It is

and will remain a conundrum for societies to

assess its strengths and weaknesses regard-

ing green energy and careful case by case

studies will be required.

Keeping this in mind, risk management

regarding the development and use of

nanotechnology should be discussed in light

of the current global context. The BRICs

economies are rising and leaning towards

high-consuming lifestyles. The world’s popu-

lation is growing at a rate that is more than

exponential. Climate change is threatening

our ecosystems and the global economy is

slowing down. This means that incremen-

tal innovation will not suffi ce to generate

the market forces permitting a transition

towards a sustainable system. In such a

context, every possible avenue for green

energy production should be explored. Those

observations provide a strong rationale for

carrying out research and development in

the fi eld of nanotechnology.

The interest in nano-materials arises

from the observation that materials at the

nanoscale behave differently than their

bulk counterparts. By manipulating the

size and shape of matter, scientists can

confer extremely interesting properties to

materials. This can in turn lead to radically

new modes of device operation. In terms of

energy production, several nano-materials

have become interesting candidates for

solar energy harvesting, largely inspired

by the Grätzel Cell developed at the Swiss

Institute of Technology in Lausanne. For

example, there is the Quantum Dot Solar

Cell, a device developed by several research

groups in parallel all around the world

with some of the most competitive ones

located in Canada and Switzerland. Those

solar cells employ spherical semi-conductor

nano-particles – called quantum dots – as

sunlight absorbers. Even though the devices

still suffer from problems such as long-term

degradation, their advantage is that they are

using much less material than the standard

bulk panels. Recently, tremendous progress

has also been achieved in terms of effi cien-

cies, which can now hit 8 to 10 percent. This

might seem low when compared to state-

of-the-art mono crystalline silicon solar cells:

yet progress in the fi eld is fast-paced. Most

importantly, the potential for improvement

and upscaling remains signifi cantly larger

than in most traditional solar cell technolo-

gies. Beyond solar energy conversion, other

active areas of research involve, among

others, the development of nano-batteries

and energy storage in super-capacitors.

Those are equally promising and relevant to

the future of energy systems.

It is thus clear that at the research level,

nanotechnology is perceived as having one

of the highest potentials for solving the

energy challenges. But just how far are

those hopes from turning into a commer-

cial reality? Nanotechnology is sometimes

forecasted to be at the origin of the next

Energy / Énergie

Kambhampati research lab at McGill University, where quantum dots are being characterized using advanced laser spectroscopies.

AU G U ST/SE P T E M B E R 2014 7

Kondratiev wave, which designates waves

of long-term and sustained economic

development initiated by a radical innova-

tion. Some put nanotechnology’s potential

to steer a system-wide transformation on

par with historical technological revolutions

such as the information and communication

industries. Nanotechnology may thus well

be “big”. Realistically though, large-scale

commercialization of nanotechnology-based

green products may still lie a few decades

from now. The fi rst market applications are

just starting to appear in fi elds often not

directly related to energy production. For

example, the big display companies are now

starting to use semi-conductor nano-crystals

to produce more vividly colored TV screens.

Some of those nano-crystals are composed

of cadmium, a heavy metal. It is still unclear

how those displays will be recycled. In such

a case, nanotechnology and sustainability do

not seem to be walking hands in hands. At

the same time, the fact that mass markets

are becoming interested in nanotechnology

might help drive costs down by scaling-up

production at the industrial level. It can be

hoped that these market forces will in turn

be harvested to foster the mass produc-

tion of other devices employing greener

materials.

As a Swiss researcher in Canada, it is

thriving to work in the fi eld of nanotech-

nology. A Canadian would very likely say

the same about working in Switzerland.

Both countries benefi t from truly amazing

research environments and as such, provide

excellent platforms for exploring the ques-

tions raised in this article. Not only are the

science infrastructures outstanding: both

countries also seem to refl ect upon nano-

technology in a wider context. Because the

links between nanotechnology and energy

are so multi-faceted, gaining an understand-

ing of cultural and business sensitivities in

different countries beyond pure scientifi c

perspectives is not only enriching but also

essential.

Hélène Seiler is a Swiss researcher currently working on her P.hD. At McGill University in the fi eld of quantum dots.Email : [email protected] ■

CANADIAN ENERGY SECTOR – FAST FACTSCanada means energy! Here at a glance

the importance of this sector and the

opportunities:

• Energy is the 4th largest contributor to

Canada’s GDP: $1,6 T or 7,6% of GDP

(2012)

• Canada is a net exporter of energy

• Because of a small population compare

to geography – 30% of our energy is

used for transport

• Because also of the cold climate – 40%

of the energy goes for heating

Different size of quantum dots absorb and emit different colors, making them interesting candidates for solar light harvesting.

IN FO SU I SS E8

• Canada is in the top 10 energy producers

in the world (production is higher than

consumption)

• 3rd for Crude Oil Reserves (2011)

• 3rd for Natural Gas Production (2009)

• 2nd for Uranium Production (2010)

• 3rd for Uranium Reserves (2009)

• 5th for Primary Energy Production

(2008)

• 6th for Electricity Generation (2008)

• 3rd for Hydroelectricity (2009)

• Oil & Gas Labour Force (direct

employment): 287 120 (2011)

• Canada has a very diversifi ed supply

(production):

• Conventional Crude Oil / equivalent

• Condensate

• Pentanes Plus

• Oil Sands

• Natural Gas Liquids, Natural Gas,

Natural Gas from Coal

• Coal

• Uranium

• Electricity (petroleum, natural gas,

coal, nuclear, hydro, wind, tidal,

biomass)

• Alternative Fuels (ethanol, biodiesel)

Provinces : Energy Production

Alberta: 1st in Canada for Conventional

Crude Oil (reserves and production) and 1st

in Natural Gas (reserves and production).

Québec: 1st in Electricity Generation, 1st in

Hydroelectricity.

Ontario: 1st in Electricity Generation from

nuclear and wind power, 2nd in thermal and

combustion turbine.

Even with new oil production in the

US – Canada has increased its share of US

imports from 2005 to 2013 (from 16% of US

imports in 2005 to 32% in 2013) – this will

not change soon according to the National

Energy Board of Canada due to new refi ner-

ies conversion in the Midwest designed spe-

cifi cally to process heavy oil from Canada.

Challenge: the transport is a major

challenge as more oil is now being shipped

through rail (according to the National

Energy Board of Canada – crude-by-rail

exports from Canada more than doubled in

2013, reaching an average of 160,000 bpd

or about 20 fully loaded trains per day by

the end of the year) to the East but also

new pipelines will need to be approved if

the scheduled production of oil is to be met

by 2030.

OILS SANDS: INVESTMENTS AND SUPPLY CHAIN OPPORTUNITIESAs outlined by a recent report in 2012 by

the Conference Board of Canada, a good part

(1/3) of the benefi ts of the oil sands invest-

ments in the coming years (2012-2035) will

also go to companies outside of Alberta.

The investment according to the report is

estimated to be $364B. This is sometime

viewed as one of the largest investments

since the Interstate Highway System in

the US (Michael Burt, director Industrial

Economic Trends).

For many companies in Ontario, Québec

and other foreign companies opening

branches in Canada, this is a great oppor-

tunity to supply an industry which literally

needs almost anything one can imagine

(construction, housing, food, IT, waste man-

agement, etc.). As the chart below indicates

maintenance and on site work will require

the most investments:

Companies in Ontario and Québec are

looking most often south of the border to the

US for new business but many would gain at

supplying this sector in Alberta even when

most think the distance can be an issue. As

Alps Welding in Woodbridge Ontario has

demonstrated, if you are fl exible and have

a state-of-the-art fabrication facility, you can

win oil sands contracts. In effect, fl exibility

is important because a lot of the equipment

is unique. The work usually will come from

engineers and designers but the end user

(Suncor, Exxon…) has to approve the facility

and then you are on the vendor list.

Alberta fabricators have long lead times

due to the load of work and the pressure

on the workforce availability; thus there

is an opportunity for Ontario, Québec and

others to fi ll the gap. Transportation is often

mentioned as a possible hurdle but as Alps

Welding notes, this is a relatively small

portion of the cost.

To get more information on the opportu-

nities (matching customers with suppliers):

- Energy Summit (Calgary) www.energy.ca

- Canadian Energy National Supply Chain

Forum (Calgary)

www.supplychainforum.ca

- National Buyer Seller Forum (Calgary)

www.cme-mec.ca

Sources:

• Center for Energy, Statistics

www.centerforenergy.com

• National Energy Board of Canada,

Canadian Energy Dynamics 2013

www.neb-one.gc.ca

• Conference Board of Canada, Oil Sands

Investment Expected to Generate

Economic Benefi ts in all Parts of Canada,

October 24 2012

www.conferenceboard.ca

• Canadian Energy Supply Chain Forum,

Winning Oils Sands Business From

Ontario, October 2014

www.supplychainforum.ca

By Marie-Josée Loiselle, Swiss Canadian Chamber of Commerce (Québec) inc. ■

Energy / Énergie

AU G U ST/SE P T E M B E R 2014 9

HILTI CANADA: REINVENTING YOUR BUSINESS MODELBy Hilti Canada

On June 24th,

at the confer-

ence facilities

graciously pro-

vided by Swiss

R e i n s u r a n c e

Company Canada,

the IMD Alumni

Club of Canada and the Swiss-Canadian

Chamber of Commerce of Ontario, hosted

an engaging and motivating learning event

featuring Marco Meyrat, Member of the

Executive Board of Hilti Corporation.

With the topic “Reinventing your Business

Model”, Mr. Meyrat eloquently presented

the thesis that: one secret to maintaining

a thriving business is recognizing when it

needs a fundamental change.

Mr. Meyrat, a Swiss national, has been

a Member of the Executive Board since the

beginning of 2005. He is responsible for the

markets in Europe and North America. He is

also the Chairman of the Board of Directors

of OLMeRO AG, Glattbrugg.

After providing a brief introduction about

Hilti, Mr. Meyrat shared with the audience

of 50 participants how Hilti, a Lichtenstein-

based manufacturer of high end construc-

tion tools and fasteners for the construction

industry, was able to transform the business

model and capitalize on a game changing

opportunity to increase customer engage-

ment by turning their product into a service.

He explained how the fl eet management

program allowed the company to continue

to differentiate itself from its competitors,

and how adopting the business model,

building the internal processes and sales

force competency build up, allowed for this

change to be successfully implemented.

“Thanks to the uniqueness of our busi-

ness model, we have been successful in

transforming tangible products into service

offerings which differentiate us from our

competition and give our customers fl ex-

ibility that they never had before”, shared

Mr. Meyrat summarizing his lecture.

As this concept is applicable across

multiple industries, there were many ques-

tions during the lively Q&A period. The

ideas presented and the featured presenter

were both very well received. Most of the

participants stayed on for further informal

discussions and networking – an additional

benefi t of the event.

www.hilti.ca ■

IN FO SU I SS E10

Tr ibeca Ins ightsChina: New Front ier for Swiss Banking

CHINA: NEW FRONTIER FOR SWISS BANKINGBy: Beat J. Guldimann, LLD

NEW AGE IN TAX POLICY HALTING GROWTHSwiss Private Banking, most importantly off-

shore private banking, has seen better days.

In the past fi ve years or so, Swiss banks

have seen their business with wealthy

international clients erode in the wake of

an unprecedented and globally coordinated

effort by all major G7 countries to put an end

to tax evasion.

As a result of this U.S. led new age of

global tax policy across the G7 and the OECD,

Switzerland has seen itself forced to sign

on to a much higher level of cooperation in

global tax matters. The aggressive approach

taken by U.S. in enforcing cooperation from

Swiss banks has led many of them to shut-

ting their business with wealthy American

clients down.

Swiss banks today apply the strict-

est know-your-client rules in tax matters

known anywhere on the planet. This com-

plete change of policy has led to the end

of growth in cross-border business with

wealthy clients from traditional markets

such as Europe and North America. Swiss

Private Banks are experiencing trouble with

profi tability and they are slow to adapt to

the new environment.

CHINA: KEY MARKET FOR GROWTHWith the growth outlook dimming in typical

markets across Europe and North America,

Swiss banks need to look for new frontiers.

Asia in general has been a growth engine

for global wealth management and private

banking for a couple of decades now. Hong

Kong and Singapore have seen tremendous

expansion of their international banking

sector as a result. The same cannot yet be

said of Mainland China, even though the PRC

has seen growth rates in domestic wealth

creation that top every other country by a

signifi cant margin.

While Swiss wealth managers have been

highly successful in attracting Asian clients

outside of China to their platforms, access to

the wealthy in China has been slower than

one might expect. We see two main reasons

for this: First, the Chinese wealth manage-

ment market is still developing and sophisti-

cated global investment strategies are com-

peting with double digit yields that wealthy

Chinese investors can (or at least used to be

able to) generate in the domestic real estate

and manufacturing sector. However, with

signs of China’s economy slowing down,

interest in global investments will slowly

pick up.

Secondly, in order to be successful in

China, international banks need to fi nd a

way to partner with key fi nancial services

fi rms in the PRC. The few Swiss banks – large

or small - that are fi rst to implement a stra-

tegic partnership for access to the domestic

Chinese market will be able to seize a sig-

nifi cant early mover advantage.

SWITZERLAND – STILL AN ATTRACTIVE DESTINATION FOR GLOBAL BANKINGDespite the recent and seismic changes

that have shaken up old business models,

the Swiss banking and fi nance centre

remains highly attractive to globally minded

investors.

• Switzerland is the most stable

democracy in the world with a

dependable rule of law and a stable,

consensus-based political system. It

is also one the most fi scally sound

countries in the world with a debt to

GDP ratio of around 35%;

• Switzerland has a well-diversifi ed

economy with an established reputation

for highest levels of quality and

innovation in which fi nancial services

only make up 10% of GDP;

• Switzerland has an enviable

unemployment rate of just 3%;

• Switzerland is home to several world-

leading multinational corporations such

as Novartis, Roche, Nestle, ABB, Sulzer,

Oerlikon and Rieter, just to name a few;

• As a result of its international exposure,

Switzerland also has a global talent

AU G U ST/SE P T E M B E R 2014 11

pool of highly trained and educated

professionals and executives;

• Switzerland remains the world’s Number

One booking centre for global private

and institutional investors. Foreign and

domestic assets held in Switzerland

currently total just over CHF 5 trillion

and Swiss banks have 26% share of the

global wealth market, doubling Hong

Kong and Singapore combined.

A SPECIAL RELATIONSHIP WITH CHINASwitzerland is the fi rst country outside of

Asia with whom China has entered a wide-

ranging Free Trade Agreement. The FTA has

come into full force and effect on July 1,

2014 and provides a framework for mutual

trade that also extends to fi nancial services.

Swiss banking institutions will also play

a key role in the process of moving the

Renminbi to full convertibility over the

coming years. They are well equipped to

handle large volumes of RMB transactions

given their decades of experience in han-

dling multi-currency platforms.

It can be expected that the FTA and all

the other factors outlined above will soon

lead to heightened interest among Chinese

investors to benefi t from the Swiss fi nancial

sector to facilitate the increased level of eco-

nomic activity between China, Switzerland

and – by extension – its trading partners.

Swiss banks are currently valued at less

than half of the price fi ve years ago. This

creates a secular buyer’s market for inves-

tors with strategic growth objectives as the

search for elusive growth in global private

banking forces many smaller to mid-sized

Swiss banks to rethink their strategic options

despite the unfavorable price environment.

While the Swiss banking regulator

(Finma) has signifi cantly tightened the

process for new bank licenses or change

of ownership of existing banks, serious

acquirers with a sensible business plan that

takes advantage of the opportunities of a

Swiss banking hub to develop international

business in new markets will generally fi nd

Finma to be cooperative. This is particularly

true in the context of the Swiss-China Free

Trade Agreement and the “open for busi-

ness” stance that the Swiss Government is

taking towards developing its new relation-

ship with Beijing.

It is far from a stretch to see the absence

of Chinese-owned banks from the Swiss

market soon coming to an end.

Beat Guldimann, owner of Tribeca Consulting

Group, holds a Doctorate in Law from the

University of Basel; he was legal counsel at

the former SBC (86-96), President and CEO

of UBS Canada (97-01), Head of Global Private

Banking at CIBC (01-04) and Vice-Chairman at

Hampton Securities (05-07). ■

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IN FO SU I SS E12

THE EMPLOYERS’ EDGE

ONTARIO SUPERIOR COURT: EMPLOYER’S OUT-OF-PROVINCE PAYROLL IS RELEVANT TO ESA SEVERANCE PAY THRESHOLDBy Rob Boswell

Crawford Chondon & Partners LLP

Management Labour & Employment Lawyers.

As a result of subsection 64(1) of the

Ontario Employment Standards Act, 2000,

certain circumstances of a dismissal trigger

an obligation on the employer to provide

an employee with severance pay. The most

common threshold test is that an employee

must have at least fi ve years of service at

the end of the statutory notice period and

the employer must have an annual payroll

of at least $2.5 million.

The common interpretation of this sub-

section, one which has been consistently

endorsed by the Ontario Ministry of Labour

and the Ontario Labour Relations Board, is

that only the payroll of the employer arising

out of its operations in Ontario shall be

included in the calculation of the employer’s

payroll for the purposes of s. 64(1). The

rationale behind this analysis is that the

Province of Ontario only has the authority

to make legislation pertaining to the opera-

tions of businesses within Ontario.

In a recent French-language decision,

Paquette v Quadraspec Inc., the Ontario

Superior Court has determined that all of an

employer’s payroll, both inside of Ontario

and outside of Ontario, shall be included

in the determination as to whether the

severance pay threshold has been met. This

decision, if followed in other decisions and

most importantly if followed by the Ministry

of Labour and the Ontario Labour Relations

Board, could have far reaching implications

for Ontario employers whose operations

spread into other provinces within Canada.

In this case, an Ontario employee

was dismissed without cause after more

than 26 years of employment. A written

employment contract governed his employ-

ment. That contract, among other things,

purported to determine his entitlement to

payment to him in the event of termina-

tion of his employment without cause. The

termination clause was found to violate the

Employment Standards Act, 2000. While it is

not our intention to examine this portion of

the decision at length, it is a useful case to

demonstrate the importance of careful con-

tract drafting. An effective and enforceable

termination clause may well have averted a

trial in this case.

The employer’s annual payroll in Ontario

was less than $1.5 million. In Quebec, the

same employer’s annual payroll was more

than $3 million. Combined, the annual

payroll more than exceeded the severance

pay threshold in the Employment Standards

Act, 2000. Looking at the Ontario payroll

alone, the annual payroll was more than $1

million short of that threshold.

Ultimately, the termination clause was

found to be void for reasons unrelated to the

determination of the severance pay issue.

Had the contract been drafted in a manner

that was enforceable, however, the sever-

ance pay threshold would have been key to

a determination of whether the employer

had complied with the contract. In other

cases where an employee brings a claim to

the Ministry of Labour under the Act, this is

a critical determination as to the quantum

of an employer’s liability. A shift in the inter-

pretation of section 64(1) could give rise to

signifi cant future liability on cases where a

dismissal has already taken place, without

severance pay, and could signifi cantly alter

an employer’s decision about whether and

how to proceed with a dismissal of a long

service employee.

We will monitor this decision in respect

of any future appeals, but also to gauge the

application of the decision in future MOL and

OLRB proceedings, as well as similar wrong-

ful dismissal actions in Superior Court.

All of the lawyers of CCPartners are

experienced in the drafting of employment

contracts. We would be pleased to assist

employers with any issues which may arise

in both the drafting of new contracts, in the

analysis of the risks associated with the

Business and Other News

Actual i tés économiques et d’affa i res

D É M É N A G E M E N T S I N T E R N A T I O N A U X

1 800 874-1071514 631-6565www.amjmontreal.com

AU G U ST/SE P T E M B E R 2014 13

dismissal of a long service employee, and in

the defense of any claims or actions relating

to wrongful dismissal.

For more information on above or other topics visit their website at www.ccpartners.ca or contact David Chondon by e-mail at

[email protected]. ■

A LITTLE HUMILITY GOES A LONG WAYby Heidi Garcia

Have you ever had a conversation with

someone who thinks they know it all?

Regardless of the subject matter, they either

know it, have heard it, or have an “expert”

opinion to offer. These individuals love to

hear themselves talk and tend to go on and

on and on. They are more concerned about

being interesting than being interested.

I have had the pleasure of meeting and

speaking with many brilliant, highly success-

ful, and well-travelled people from all over

the world. Time and again, one of the most

fascinating things about these individuals is

that they are always eager to learn more.

They have a wonderful zest for knowledge

and understanding. They certainly know a

lot but they realize that there is still so much

to learn.

Nicknamed the “Wizard of Westwood”,

John Wooden was a highly successful head

coach of UCLA’s basketball team and often

lectured his players that being teachable

is the single most important element to

becoming a leader. He said: “Without humil-

ity, one will never learn from the greatest

teacher of all, failure. Losses come at you in

every shape and size, and hit you in every

area of your life - and that much is guaran-

teed. What is not guaranteed is your being

humble enough to learn from them.”

The opposite of humility is pride. How

many people have experienced great failure

because their pride got in the way? Has that

ever happened to you? Has your pride or

ego caused you heartache or regret? Have

you ever said, “if only I had listened”? How

many companies have suffered fi nancial ruin

due to the pride of some of their leaders?

A very wise ancient king said: “Pride is

before a crash and a haughty spirit before

stumbling”. Why do we always have to learn

things the hard way?

Being open and willing to learn is humil-

ity in action. It is one of the key foundational

elements of successful people. Although

we may believe that we are legends in our

own mind, the reality is that no one knows

it all. Everyone has something to learn and

improve. The hard part is acknowledging

this and making the necessary adjustments

in our thinking and attitude. It’s easy to point

out the failings and weaknesses of others

but much more diffi cult to recognize our

own faults.

Humility is often misunderstood and

thought of as having a low opinion of one’s

abilities and worth. Being humble does not

mean we think less of ourselves. It simply

means we think of ourselves less. “Humble

people are not self-deprecating,” says

psychologist Christ Peters in an article for

Psychology Today, “but rather accurate in

how they regard and present themselves.”

By making an honest and accurate self-

assessment, you will know where your

strengths and weaknesses truly lie. This

can save you from embarrassment in some

situations while ensuring greater success in

others.

Kirk O. Hanson is the Executive Director

of the Markkula Center for Applied Ethics

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IN FO SU I SS E14

Business and Other News

Actual i tés économiques et d’affa i res

at Santa Clara University and a pioneer in

the study of business ethics and business

responsibility. He has compiled a list of

characteristics demonstrated by unteachable

leaders. According to Professor Hanson, you

are an unteachable leader if you:

• believe you know it all

• tend to think you should be in charge

• believe the rules do not apply to you

• tend to believe things get done better

all by yourself

• believe you shouldn’t fail

• believe you are better than others with

less talent or status

• think you are more important than the

organization

How did you rate? How many of these

characteristics do you feel apply to you?

Awareness is the fi rst step. This list may be

a good wake-up call and may give you the

motivation to become more open, humble

and teachable. You may need to let go of

already knowing it all or always needing

to be right. It may not be easy but a little

humble pie is good for all of us.

Pride can weaken a leader. Humility can

strengthen a leader. Prideful leaders have

all the right answers. Humble leaders ask

all the right questions – of themselves and

others. A prideful leader ignores what is

obvious to everyone else. A humble leader

is realistic and objective. A prideful leader

says “me”. A humble leader says “we”.

So what are the benefi ts of cultivating

humility? There are many. It improves inter-

actions across all levels, it reduces anxiety,

it encourages cooperation, respect and sur-

prisingly, it enhances one’s self-confi dence.

People enjoy being around those who are

considerate and who think about others and

not just themselves. Humility also promotes

learning and growth by keeping us open to

new possibilities.

Humility is not usually talked about

around the board table or in conference

rooms but it is a powerful virtue that we

should all do our best to cultivate

Heidi Garcia is a Human Performance Specialist, working for and with KARICO Performance Solutions, located in Richmond Hill, Ontario. Karin Lindner is the founder and owner of KARICO and her mission is to “help organizations and individuals in manufacturing environments to become the best they can be by positively impacting their ROI (Relationships, Outcomes and Improvements)”. ■

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AU G U ST/SE P T E M B E R 2014 15

UBS COMMODITY MARKETS UPDATE

UNEVEN DYNAMICS IN CHINA’S COMMODITY IMPORTS• The consolidation in commodity prices

in May has room to run further, as we

believe a set of factors is in place that

remains bearish for the asset class.

• Favorable weather conditions, solid U.S.

crude oil production, China’s structural

growth slowdown, and normalizing U.S.

monetary policy remain headwinds for

commodities this year.

• Arbitrage and individual commodity

considerations should keep China’s

trade dynamics heterogeneous despite

the structural deceleration in economic

activity.

• That said, some of the recent import

dynamics in copper, zinc, iron ore, crude

oil, and soybeans are out of sync with

the cyclical picture of the economy

and China’s structural demand needs,

warranting a sharp deceleration.

• We add sugar and cotton to our existing

long recommendations. A market defi cit

in sugar and downward-sloped forward

curve in cotton make these investments

attractive in our view.

Dominic Schnider, analyst, UBS AG [email protected]

Giovanni Staunovo, analyst, UBS AG [email protected]

CRUIDE OIL: U.S. ALLOWS CONDENSATE EXPORTS• The U.S. Department of Commerce has

approved exports of partially refi ned

condensate.

• While U.S. exports of refi ned oil products

(e.g. gasoline, diesel) are not restricted,

any change in the U.S. crude oil export

ban is very unlikely this year, in our

view.

• As long as the ban remains in place, a

discount of at least USD 7/ bbl between

WTI and Brent is required to ensure

suffi cient exports of U.S. crude oil

products.

No change in the U.S. crude export

ban U.S. exports of unrefi ned crude oil and

condensate are generally banned. Some

market participants perceive the latest

decision by the U.S. administration – two

companies received approval to begin

exporting processed oil condensate – as an

initial step toward the removal of the U.S.

crude oil export ban. However, the permit

is for the export of a refi ned product, which

is generally not restricted. While the crude

export ban topic is likely to remain on

Washington’s radar, the ban is unlikely to be

lifted anytime soon. Some U.S. policymakers

remain concerned about energy security,

the potential impact of exports on domestic

crude prices as well as U.S. consumers being

sensitive to gasoline price changes, making

them reluctant to relax export restrictions

quickly. Solid exports of crude oil products

are needed to compensate for strong U.S.

crude oil production, which is rising by

Energy / Énergie

Quote of the Month

“Whether you think you can, or you

think you can’t – you’re right.”

Henry Ford

IN FO SU I SS E16

1mbpd per year. These product exports are

already quite well established – currently at

around 3.6mbpd. This is unlikely to change,

but requires U.S. crude oil prices to continue

to trade at a discount to international

benchmarks. A discount of at least USD 7/

bbl between WTI and Brent is still required,

in our view. This ensures U.S. refi neries

enjoy healthy margins versus their European

peers, keeping refi nery runs high and result-

ing in increased demand for local crude oil

at the expense of imports while motivating

ample U.S. exports of crude oil products.

UNREST IN IRAQ – A LONG-TERM CONCERN• The insurgency in Iraq has not disrupted

oil supply so far, but oil markets are

concerned that this could occur.

• Short-term crude oil supply from Iraq

should only be affected marginally, since

most Iraqi production comes from the

South.

• That said, a prolonged Iraqi civil war

would put incremental supply in coming

years at risk. Iraq is expected to account

for 60% of incre- mental OPEC oil supply

until 2019.

Giovanni Staunovo, analyst, UBS AG [email protected]

PRECIOUS METALS - INDIA NOT SAVING GOLD FROM ANOTHER PRICE DECLINEIndia’s import restrictions on gold have been

relaxed, with room for more policy easing. A

sharp decline in the country’s current account

defi cit and a new government taking offi ce

motivated the Reserve Bank of India (RBI)

to grant additional banks and designated

trading houses the right to import gold under

the existing 80:20 rule (20% of the imports

need to be re- exported). As a result, the

Indian gold price premium versus London

has started to narrow on expectations of a

better-supplied Indian gold market.

Expectations of higher gold imports

by India are justifi ed to certain extent.

Following last year’s restrictions (the 80:20

rule and the import duty increase to 10%),

offi cial imports dived by around 60% y/y in

2H13 and 51% in 1Q14. For 2014, we believe

India’s offi cial gold imports could come in at

825-850 tons versus 825 tons last year. This

modest uptick refl ects our view that neither

the RBI nor the government wants meaning-

fully higher gold imports – just enough to

reduce smuggling.

Modestly fi rmer Indian demand should

fail to offset the lack of investment demand,

especially if outfl ows from ETFs gather pace.

Gold ETF outfl ows are expected to accelerate

as U.S. economic data is likely to improve

further, supporting a stronger USD and the

normalization of U.S. monetary policy, with

policy rates grinding higher from 2H15

onward. Indifference toward the yellow

metal is found not only in the Western

world but in Asia. Despite a 26% y/y

decline in the gold price in 1Q14, Chinese

bar and coin investment declined by 55%,

thereby outweighing the 10% rise in jewelry

consumption.

Dominic Schnider, analyst, UBS AG [email protected]

Giovanni Staunovo, analyst, UBS AG [email protected] ■

Energy / Énergie

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AU G U ST/SE P T E M B E R 2014 17

Business and Other News

Actual i tés économiques et d’affa i res

MINIMUM WAGES IN CANADA AND IN SWITZERLANDBy Kurt Schläpfer,

Switzerland

Canada has minimum

wages individually

set by the provinces

or territories. Contrary

to this, Switzerland

does not have a minimum wage written

into law. As Swiss voters have recently

rejected plans for a nationwide minimum

wage, it is interesting to compare the argu-

ments in Switzerland with existing solutions

in Canada and in other countries.

CANADAThe minimum wage in Canada depends

on the province or territory and ranges

from CAD 9.50 to CAD 11.00 per hour.

Alberta has the lowest minimum wage at

CAD 9.95, while Nunavut’s is the highest

at CAD 11.00. Minimum wages in all the

other provinces and territories are now at

least CAD 10.00. Ontario’s minimum wage

has been frozen at CAD 10.25 since 2010.

Under the Conservative government, it was

CAD 6.85 an hour for nine years before the

Liberals began to raise it in 2004. Since

then, Ontario’s minimum wage has gone

from being one of the lowest in the country

to one of the highest. Currently, there is a

province-wide campaign to increase the

minimum wage from CAD 10.25 to CAD

14.00 an hour. The Ontario government has

appointed a panel to advise it on increasing

the minimum wage.

An important question is in which

relationship the minimum wage should

be to the average wage. Ontario’s current

minimum wage accounts for just 42 per

cent of the province’s industrial wage which

is CAD 24.22 an hour. Experts recommend

setting the minimum wage to 60 per cent of

the average Ontario industrial wage – which

would be CAD 14.50 an hour.

SWITZERLAND Swiss law does not specify any minimum

wage. In many cases, a minimum wage is

part of a collective employment agreement

negotiated by industries or companies. But

only half of all workers are covered by a col-

lective agreement guaranteeing a minimum

income.

In January 2011 the Trade Union

Federation launched a referendum calling

for a minimum wage of SFR 22.00 per hour

or around SFR 4,000 per month. This hourly

minimum wage of SFR 22.00 represents

two-thirds of the average Swiss wage of CHF

33.00. According to the State Secretariat for

Economic Affairs this would be the highest

minimum wage in any member country of

the OECD.

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The Trade Unions have argued that

Switzerland may be a rich country, but there

are still many “working poor” – people who

work but are under the poverty line – a situ-

ation that the Unions want to change. Most

employers, however, see minimum wages

as damaging for employment. According

to them many countries with minimum

wages have not managed to reduce their

unemployment rates. And in recessions a

minimum wage would cause fi rms to move

abroad and obstruct the creation of new

jobs. Moreover, the Unions make the wrong

assumption that only one person of a family

works, whereas often there are two wages

per family. There are industry sectors in

Switzerland where the average salary is only

around CHF 4,000, meaning that the new

minimum wage would have a strong impact

on their salary structure and jeopardize jobs.

On May 18, 2014 the Swiss voters have

now rejected to accept a minimum wage

with a majority of 76%, mainly because

they feel that a government intervention in

a free market economy is not necessary. The

minimum wage referendum was the third

time in less than two years that Swiss citi-

zens had to vote on issues dealing with sala-

ries. Last year voters approved a restriction

of “fat cat” salaries for top managers. Then

they rejected to cap executive salaries being

12 times higher than that of the lowest paid

employees.

MINIMUM WAGES IN OTHER COUNTRIESA number of European countries such as

Germany, Denmark, Italy, Austria, Finland,

Sweden and Norway have no statutory

national minimum wages.

Germany is now set to introduce a

national minimum wage, because this

was a key demand of the new centre-left

governing partners to form a “grand coali-

tion” government. The national minimum

wage of Ð 8.50 an hour may be introduced

by 2015. Chancellor Angela Merkel and her

party had fi rst opposed this scheme, arguing

that it would cause job losses.

In the US the minimum wage is US$ 7.25,

the lowest among the countries compared in

this article (see table below). Increasing this

minimum wage to US$ 9.00 is one of the

main items on US President Barack Obama’s

second-term agenda. The higher minimum

wage would amount to about 40 per cent

of the US average income, still not an ambi-

tious goal compared to the solutions in other

countries. UK and France have minimum

wages that are higher than in USA and in

Canada but well below the proposed wage

in Switzerland.

Business and Other News

Actual i tés économiques et d’affa i res

Comparison of minimum wages:

Country Minimum wage Minimum wage Effective in local currency in U.S. $ *

Switzerland Proposed in a 25.66 Rejected on referendum: SFR 22.00 18.05.2014

Canada ** min. CAD 9.95 10.21 01.09.2013Ontario CAD 10.25 10.52 31.10.2010

USA US$ 7.25 7.25 01.07.2009

Germany Ð 8.50 12.38 Not before 2015

UK £ 6.31 11.85 01.10.2013

France Ð 9.53 13.86 01.01.2014

* Exchange rate of 04.07.2014 (UBS Currency Converter)

** Individually set by each province or territory

WELCOME NEW MEMBERS

SCCC (ONTARIO) INC.

New Personal Member:

Alexandra Soriano

Vertical International

324 Roselawn Avenue

Toronto, ON M4R 1G1

Web: www.verticalinternational.com

Email: [email protected]

Tel: 647-985-7898

How to become a member of the SCCC:

Sign up online at

www.swissbiz.ca/memberships

or contact our offi ce at [email protected] or

416-236-0039

IN FO SU I SS E20

SWISS INVESTMENTS IN RESEARCH INCREASEIn 2012, Switzerland has invested a total of

CHF 18.5 billion in research and develop-

ment, which corresponds to an increase of 14

percent compared to 2008. Especially Swiss

universities contributed to this increase.

With CHF 12.8 billion or about two-third

the largest share of expenditure on research

and development (R&D) still comes from

the private sector, according to the Federal

Statistical Offi ce (FSO). The contribution of

Swiss universities, however, has risen by 32

percent to CHF 5.2 billion since 2008.

Overall, the share of R&D expenditure to

the gross domestic product of Switzerland

was 3.1 percent. In international comparison

Switzerland comes in sixth place.

GOOD COUNTRY INDEX: SWITZERLAND IN TOP 3The Good Country Index measures how

much each of 125 countries contributes to

the planet. Switzerland ranks 3rd overall,

excelling particularly in prosperity and

equality as well as science and technology.

The Good Country Index, released on June

24th 2014 by policy adviser Simon Anholt,

analyses 35 different types of data from the

UN, the World Bank and other international

organizations and NGOs. The measure is

based on 35 datasets broken down into

seven areas, such as technology, health and

culture.

Switzerland does particularly well in

terms of science and technology, ranking 6th

regarding the number of international stu-

dents and publications, patents, trade jour-

nals and Nobel Prize winners. With respect

to prosperity and equality, Switzerland even

holds 2nd position.

Ireland ranked ahead of Finland,

Switzerland and the Netherlands in the top

four. The US reached 21st place whereas

Libya, Vietnam and war-torn Iraq were joint

bottom.

BUSINESS LOCATION SWITZERLAND STANDS OUT WITH HIGH QUALITY AND STABILITYThe number of foreign direct investment

in Switzerland has risen by 25% in 2013,

according to this year’s «Swiss Attractiveness

Survey» by EY. In the ranking of Europe’s most

attractive investment locations, Switzerland

advanced from rank 14 to 12.

For international investors the business

location Switzerland stands out with values

such as stability and quality. Top marks were

obtained in particular for the quality of life

in Switzerland, the stable political system

including a reliable government, the stabil-

ity of the social environment and the stabil-

ity of the Swiss currency.

And the attractiveness of Switzerland

will even increase over the next three years,

according to the survey of EY. 36% of respon-

dents were positive about the development

of Switzerland as a business location.

In addition, results show a strong loyalty

to location. The proportion of respondents

which plans to move away parts of their

business from Switzerland is as low as 8%.

The churn rate has thus fallen to the lowest

level in the past ten years. «The excellent

fundamentals of the Swiss economy have

not changed in recent years: Switzerland

still performs very well with regard to

macroeconomic variables such as economic

growth, unemployment and government

debt. The country can even be considered

a benchmark in terms of crisis manage-

ment worldwide» says Alessandro Miolo,

Regional Lead Partner for German-speaking

Switzerland at EY.

THREE OF THE TEN SMARTEST CITIES ARE SWISSIn the 2014 IESE Cities in Motion Index three

Swiss cities are ranked among the top 10

smartest cities in the world. Zurich ranks

4th followed by Geneva on rank 6 and Basel

on 7.

In the study conducted by researchers

from IESE business school in Spain 135 cities

were ranked based on 50 indicators along

10 different dimensions. These included

governance, public management, urban

planning, technology, environmental aware-

ness, international outreach, social cohesion,

mobility and transportation, human capital

and the economy.

Switzerland proved to be the country

with the best result overall, with three of its

cities in the top 10. Out of the top 20, 10

cities are European, 6 American, three Asian

and one is Oceanian. Tokyo, London and

New York formed the podium for the third

consecutive year. ■

Business and Other News

Actual i tés économiques et d’affa i res

BIENVENUE AUX NOUVEAUX MEMBRES

CCCS (QUÉBEC) INC.Membre senior

Pius Kaufmann, fondateur

Kaufmann de Suisse

2195, rue Crescent

Montréal (Québec)

H3G 2C1

(514) 848-0595

Membre individuel

Charles Kaufmann, Président

Kaufmann de Suisse

2195, rue Crescent

Montréal (Québec)

H3G 2C1

tél: (514) 848-0595

e-mail: [email protected]

AU G U ST/SE P T E M B E R 2014 21

LA SUISSE À MONTRÉAL EN LUMIÈRE 2015, LE FESTIVAL HIVERNAL DE MONTRÉAL

« Bienvenue en Suisse ! Quatre saisons,

quatre cultures et plein d’idées »

La Suisse est le pays à l’honneur du prochain

festival hivernal Montréal en lumière (MEL)

qui aura lieu du 19 février au 1ermars 2015.

Un des festivals principaux de Montréal, le

MEL draine chaque année presque 1 million

de visiteurs. Avec ses partenaires principaux,

Suisse Tourisme et Swiss International Air

Lines, le Consulat général de Suisse à Montréal

souhaite présenter au public une Suisse mul-

ticulturelle, innovante et créative. La présence

de la Suisse au MEL 2015 se déclinera sur les

activités extérieures et intérieures axées sur

la gastronomie, les arts et l’animation sur la

Place des Festivals de Montréal.

Placé sous la direction du Consulat général,

le comité d’organisation du projet suisse

prépare des événements dont Montréal se

souviendra. Ainsi, en gastronomie, notre

pays a un nombre impressionnant de chefs

étoilés. La Suisse est championne du monde

en chefs étoilés par nombre d’habitants. Elle

a aussi des vins remarquables et dispose donc

de tous les atouts nécessaires pour écrire une

page d’or dans l’histoire de la gastronomie

à Montréal. Une quinzaine de chefs suisses,

parmi les meilleurs, seront ainsi invités à

Montréal, de même que le meilleur som-

melier du monde et le champion du monde

(inoffi ciel) de la fondue !

Les artistes suisses ont quant à eux décou-

vert Montréal et le Québec il y a longtemps

déjà. Les échanges sont intenses, particulière-

ment autour de la langue française que nous

partageons avec le Québec. Nous présen-

terons des artistes suisses reconnus mais

également des jeunes talents à découvrir, si

possible en provenance des diverses cultures

suisses. Nous ne souhaitons pas encore

révéler les noms des artistes invités, afi n de

préserver la surprise pour les conférences de

presse offi cielles. Outre les arts de la scène,

nous travaillons également sur les domaines

du design et de l’architecture.

La place des festivals de Montréal, site

extérieur gratuit et centre névralgique du

MEL, proposera des animations pour toutes

et tous. Ainsi des projets d’exposition de

photos, de projections de fi lms, d’illumination

de bâtiments, de stands gastronomiques et

autres sont à l’étude. Un centre d’information

sur la Suisse sera disponible.

Nous recherchons encore des partenaires

suisses qui souhaiteraient utiliser avec nous

cette magnifi que plateforme pour leur com-

munication. Contactez-nous afi n de discuter

des possibilités d’une coopération !

Pour plus de détails sur le festival et notre projet, visitez www.montrealenlumiere.com ou contactez-nous à [email protected]

Le ComitéConsulat général de Suisse – Swiss International Air Lines – Suisse Tourisme

Chamber News

Informations de votre Chambre

IMAGINEZ UN GESTIONNAIRE DE PATRIMOINEImaginez un gestionnaire de patrimoine à la convergence des gestions

traditionnelle et alternative.

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et non d’indices à battre.

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Bienvenue chez Lombard Odier.

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IN FO SU I SS E22

GOLF TOURNAMENT 2014 IN ASSOCIATION WITH CGCICThe annual SCCC Golf Tournament in associa-

tion with CGCIC took place on June 10th at the

ClubLink’s King’s Riding Golf Club. Returning

to its “Swissness”, the event was a great

success with over 110 players who enjoyed

a beautiful day of golf and an evening with

over 140 guests in attendance.

The day was not just about the golf.

Some of the special extras of the day

included the Chalet Suisse where players

took a break to enjoy Raclette cheese

served with Bünderfl eisch and Apfelschorle.

Accompanying this mouth-watering Swiss

delicacy were the traditional Alphorn tunes.

There was also a Nespresso stand, where

freshly prepared coffee was offered to keep

the golfers’ energy up. The Gelato Fresco

Chamber News

Informations de votre Chambre

Congratulations to the winning team (from left to right): Bruno Arnold, Jay Hogan, Auran Durrani and Marcus Arnold from Euromart

SCCC President Ernst Notz handing over the cheque to Marijke Vandergrift from Right to Play

Offrir au monde ce qu’il y a de mieux. Une tradition suisse. Les produits de haute qualité sont synonymes de confort. Nous sommes bien placés pour le savoir. Nous les exportons. En tant que transporteur aérien de la Suisse, nous traduisons la haute qualité en confort sur chaque vol, en vous o rant un service et une hospitalité jamais démentis. Pour les vols quotidiens de Montréal à Zurich, et des correspondances vers plus de 70 destinations à travers le monde, contactez votre agent de voyage ou visitez swiss.com

*

*Notre emblème est notre promesse.

AU G U ST/SE P T E M B E R 2014 23

station provided delicious ice cream to help

the players cooling off under the sun.

A part of the proceeds from this event

supported the charity Right to Play, and

guests had the chance to meet Canadian

Olympic Beach Volleyball player and Right

to Play Ambassador Martin Reader on the

course. A donation of $5,000 was presented

that evening for this global organization,

made up of inspirational coaches, athletes

and staff using play to engage kids in their

education, to teach them health lessons

and to show them how to build peaceful

communities.

Cocktail hour offered golfers the opportu-

nity to mingle, as well as the chance to bid

on fabulous items at the silent auction tables.

The evening ended with a live auction, spon-

sored by Swiss Airlines, Switzerland Tourism

and the Lausanne Palace & Spa Hotel.

And at the end of the day, every golfer

went home with a Lindt & Sprüngli gift cer-

tifi cate and truffl e golf balls.

Our kind sponsors were very generous in

helping us making this year’s golf tourna-

ment a success; without them this event

would not have been possible!

Thank you to all companies who have

generously donated to this year’s golf

tournament.

Premium Sponsors:

BMW Group Canada

Lindt & Sprüngli Inc.

Kuehne+Nagel Ltd.

Live Auction Sponsors:

Swiss Airlines

Switzerland Tourism

Lausanne Palace & Spa Hotel

Cart Sponsor:

Crawford Chondon

Lunch Sponsor:

Dale & Lessmann

Award Sponsor:

Lette LLP

Reception Sponsor:

Sony

Dinner Sponsor:

Zurich Canada

Hole-in-One Sponsors:

BMW Group Canada

Kuehne+Nagel Ltd.

Hole Sponsors:

Artisan Complete

Blake, Cassels & Graydon LLP

Hoffmann-La Roche

Hottinger

Lette LLP

Nespresso

Northbridge Financial Corporation

Stikeman Elliott

UBS

TUV SUD

Trowbridge

General Sponsors:

CG&B Group

corptype

Ice Cream Sponsor:

Gelato Fresco

Water Sponsor:

Naya

Coffee Sponsor:

Nespresso

Besides golfi ng, the players had to put their soccer skills to the test at the “World Cup Hole”

IN FO SU I SS E24

LE GOLF AVEC VOTRE CHAMBRE; UNE SORTIE AGRÉABLE POUR TOUS!Encore une fois cette année, le tournoi de

golf de la Chambre de commerce canado-

suisse du Québec a été marqué par le beau

temps et la bonne humeur! Quelque 120

personnes ont eu le plaisir de jouer sur le

magnifi que parcours du Whitlock, à Hudson,

un club privé de grande classe.

La formule “Vegas”, occasionnant un jeu

plus rapide puisqu’on joue la meilleure balle

du quatuor, nous a aussi permis de complé-

ter les 18 trous en moins de 5 heures, après

un agréable lunch, propice aux contacts

d’affaires et aux retrouvailles amicales.

Nous désirons d’ailleurs saluer la délégation

importante accompagnant notre président

d’honneur cette année, M. Guy Diamond, le

patron de PVC Québec Inc. Votre chambre a

pu contribuer, avec l’aide des joueurs, à une

levée de fonds de 1 150$, en faveur de la

Société canadienne du cancer grâce à un

défi amical intitulé « Beat the pro ».

Cet après-midi mémorable a été suivi

du traditionnel cocktail, qui a permis aux

golfeurs de revenir sur leurs exploits spor-

tifs de la journée, souvent cocasses, et de

renouer avec d’autres, dont une vingtaine

d’invités supplémentaires s’étant joints à

nous pour la soirée, et un délicieux dîner,

durant lequel toute l’équipe du Whitlock a,

encore cette année, fait preuve d’un grand

professionnalisme.

Comme par le passé, les meilleurs joueurs,

et joueuses, se sont mérités pendant cette

belle soirée divers trophées, dont le celui

du Consul Général, et le trophée Jacques

Thévenoz, pour ne mentionner qu’eux. Notre

tournoi avait d’ailleurs été nommé le Jacques

Thevenoz Memorial, et cette année, Mme

Madeleine Paquin (Thevenoz) nous a fait

visionner une très belle présentation audio-

visuelle, à la mémoire de son mari qui nous

a quitté il y déjà 5 ans. Nous avons aussi,

grâce à la générosité de nos commanditaires

dont notamment M. Jean-Jacques Laurans,

président de Alfi d Services Immobiliers Ltée,

pu offrir à l’Institut et l’Hôpital Neurologique

de Montréal un chèque de 5 000$. On recon-

nait d’ailleurs, sur la photo ci-jointe , M.

Bruno Setz, Vice-président de la Chambre,

et responsable de l’organisation de cet

événement majeur, et le Dr. Benoit Goulet,

Neurochirurgien, qui reçoit le chèque des

mains de M. Olivier Rodriguez, de Mirabaud

Gestion Inc., président par intérim.

De très beaux prix de présence ont aussi

été remis pendant la soirée à des dizaines

de personnes, sous la direction effi cace de

M. Setz, et nous en profi tons pour remercier

nos indispensables commanditaires, à cet

égard aussi. Le grand prix, soit un voyage

en Suisse en classe affaires sur les ailes

de Swiss International Airlines pour 2 per-

sonnes, avec les arrangements terrestres

Chamber News

Informations de votre Chambre

M. Bruno Setz, Dr. Benoit Goulet, M. Olivier Rodriguez

Mme Vibeke Daoust Ljungberg (Swiss), Me Gilles Gagné (Gagné Bennett), M. Andreas Kraeuchi (Swiss)

AU G U ST/SE P T E M B E R 2014 25

couverts par Tours Chanteclerc a cette

année été remporté par Me Gilles Gagné, de

l’étude Gagné Bennett, qui avec son épouse

épaulent solidement notre chambre depuis

de très nombreuses années, et le méritaient

bien. On le reconnaît ici arborant fi èrement

son prix, en présence de Mme Vibeke

Daoust Ljungberg, de chez Swiss, et de M.

Setz ainsi que M. Andréas Kraeuchi, qui s’est

aussi beaucoup impliqué dans l’organisation

et le déroulement de cet important événe-

ment et qu’il convient de remercier, ainsi

que toute l’équipe de bénévoles lui ayant

prêté main-forte.

Me Jean-Marc Ferland Membre du conseil d’administration

de la Chambre ■

SOCCER (FOOTBALL) WORLD CUP 2014 EVENTS WITH THE SCCC/CANADIAN SWISS CULTURAL ASSOCIATION/SWISS CLUBby Ernst NotzPhoto by PKS

The “Futebol” hype is over, it is again busi-

ness as usual but some great games with

most goals scored ever, brought the daily

routine to a standstill. Who would have

thought that Spain, Italy, Portugal and

England would not make it out of the group

stage, how far Costa Rica went and that the

host country Brazil would get beaten so

badly by the Germans.

It was a lot of fun to organize some

events at two different Toronto locations.

Many Swiss showed up and displayed our

red/white color shirts and fl ags, made noise

with the cowbells and even alphorns were

played.

A soccer goal (hockey goal size to sym-

pathize with Canadians not being present

at the World Cup) with a Swiss cross net,

entertained former soccer players and young

people (see photo).At each game a differ-

ent educational quiz brought our opponent

countries closer together; representatives

of Ecuador, France, Honduras and Argentina

were invited to attend our gatherings.

On TV screens we saw our Swiss players

giving their best and maybe other then

against France they did a great job and

made us proud. With a little more luck we

could have made it to penalty shots against

Argentina, who turned out to be the fi nalist

and runner up.

A big thank you to all sponsors (mainly

Lindt, Kuehne + Nagel and Northbridge) that

contributed to the quiz prizes and to all the

soccer enthusiasts that showed up to these

most famous sport events. Please make

a note that Switzerland will already play

against England on Sept. 8th for the EuroCup

qualifi cation… ■

B U S I N E S S A N D M A N A G E M E N T C O N S U L T A N T S

STEIGER, ZUMSTEIN & PARTNERS AG

CONTACT:

Nauenstrasse 49, P.O.Box,CH-4002 BaselPhone +41 61 270 99 10, Fax -19E-mail: [email protected]

M E M B E R O F :

• Establishment and management of Swiss corporations• Accounting services• International Tax Planning for companies and individuals• Management functions in Finance and Administration for Swiss- and international companies• Services provided in English, French and German

IN FO SU I SS E26

Travel News

BASEL: A HOTEL TO BE DISCOVEREDDo you want to experience a unique way of living in Basel? Stay at «The Passage» – a place of transition between the old and the new city, in the heart of downtown Basel. The hotel will open in the fi rst quarter of 2014, close to the main train station and to all major commodities. Located on the ancient fortifi cations, it occupies a unique position in the city. It’s your turn to discover «The Passage» before everyone else does.

LAUSANNE: MEET AT A UNIQUE MEETING PLACEIn April, the Swiss Federal Institute of Technology in Lausanne (EPFL) opened the fi rst ever fully automated conference center: the Swiss Tech Convention Center. It offers a total capacity of 3000 seats and features fully modular rooms and halls. The Center is equipped with the technology of the future including some truly revolutionary features: the seats can be retracted at the touch of a button so that the intelligent fl oor swal-lows them up and replaces them with a completely fl at surface.

ST. MORITZ: THE WINTER TOURISM ORIGINALThe British were the fi rst winter tourists in the Alps and discovered a whole new world: the white winter holiday. It all started in St. Moritz in the Engadin valley 150 years ago: the hotelier Johannes Badrutt made a daring bet with some of his summer guests. Subsequently, the British fl ocked to the Engadin, and over the years left their mark in the form of polo and cricket tournaments, the Cresta Run, and skeleton and bob-sleigh races.

LUCERNE: READY FOR THE «SWISS CHOCOLATE ADVENTURE»?As of June 19, the Swiss Transport Museum features a new attraction: the «Swiss Chocolate Adventure». This new multimedia experience world focuses on the subject of chocolate as a Swiss quality product. Visitors learn more about the origins, production and transportation of chocolate. The «Swiss Chocolate Adventure» is a journey of discov-ery for all senses.

SAAS-FEE: DISCOVER THE FIRST WELLNESS SWISS YOUTH HOSTELThis summer the Swiss Youth Hostel Association opens a new youth hostel at Saas-Fee. The building’s unique architecture and the integrated «Aqua Allalin» complex with an indoor pool, wellness and fi tness areas already make it something out of the ordinary. The new youth hostel provides a facility made for active families, sports groups as well as solo travelers.

ZURICH: WHERE THE CHAMPIONS MEETThis year the European Athletics Championships are coming to Zurich in 2014. Between August 12 and 17, about 1400 athletes from 50 countries compete for medals in 47 disciplines at the legendary Letzigrund Athletics Stadium. 250,000 spec-tators are expected in the stands and 360 million viewers will follow the event live on television. A truly superlative event!

LAS VEGAS: NEW EDELWEISS FLIGHTS TO ZURICHEdelweiss Air, a member of the Swiss International Air lines family, will add service to Las Vegas. Edelweiss began nonstop fl ights to and from Las Vegas on May 5, with twice weekly service on Mondays and Fridays.

A SWISS PEAK PASS OFFER THAT’S UNSTOPPABLE.Spectacular views, stunning rides, simple access – all this and more awaits you when exploring the scenic splendors of the Swiss Alps with the Swiss Travel System. Some of Switzerland’s majestic peaks can be dis-covered via mountain trains and cable cars when booking a 4- or 8-day Swiss Peak Pass in addition to the consecutive 4- or 8-day Swiss Pass. With the Swiss Peak Pass you’ll have access to 8 specifi c Swiss Peaks like the Mt. Allalin, the Mt. Brienzer Rothorn or the Mt. Stanserhorn. This offer is available between January 1 and December 23.

FIND THE BEST SWISS HOTELS THE EASY WAY.Are you looking for a great hotel for your next vacation in Switzerland? Thanks to

the new «Best Swiss Hotels» App, created by Switzerland Tourism, that’s a breeze. The app allows you to chose various criteria, such as type of hotel (for instance in the mountains, near water or in the city) or the number of stars. Once you fi nd the perfect one, you can directly book your rooms. The app can be downloaded from the iTunes App or the Google Play Store and works on iPhones, iPads and Android Smartphones. ■

AU G U ST/SE P T E M B E R 2014 27

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IN FO SU I SS E28

Art Masters22-31 Aug 2014 St Moritz, Switzerland

SwissPel25-26 Aug 2014Dietikon, Switzerland

SuisseEMEX26-28 Aug 2014Zurich, Switzerland

Ostschweizer Bildungs-Ausstellung29 Aug-02 Sep 2014 St. Gallen, Switzerland

Sindex02-04 Sep 2014Bern, Switzerland

Home Ownership Fair Switzerland04-07 Sep 2014 Zurich, Switzerland

BAUEN & MODERNISIEREN04-07 Sep 2014Zurich, Switzerland

Gehla05-05 Sep 2014Chur, Switzerland

ZAGG Lucerne07-10 Sep 2014 Lucerne, Switzerland

Expat-Expo Zurich07-07 Sep 2014Zurich, Switzerland

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Discover the wide range of benefi ts available to you, such as Health and Dental, Critical Illness coverage, Short & Long Term Disability income replacement and more!

For more information, contact Patricia Keller Schläpfer at the SCCC

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