Future of Swiss Private Banking?
Is Swiss private banking a discontinued model? Media representatives and experts in the recent past forecast gloomy times. A recently published PwC report sheds light on this thesis with new findings.
In the context of the regularization process of untaxed client assets from abroad, various horror scenarios regarding the outflow of client assets from Switzerland have been read in recent times. For some time now, a large number of participants in the Swiss financial center have been committed to a consistent white money strategy and have largely cleaned up the legacy of the past. Where can new models of Swiss banking lead?
One thing up front: the international regularization process has not led to any significant outflow of client assets at Swiss banks. Total client assets under management in Switzerland are currently almost at the level of the peak year 2007. "The Swiss financial center has been able to defend its position as the number one offshore asset management center even in times of automatic exchange of information," sums up the clear PwC report.
More details on the "Future of Swiss Private Banking" and on Banking Trends at
www.pwc.ch/finanzdienstleistungen
