Switzerland-headquartered family owned wealth management group Kaiser Partner’s private bank increased its net profit by 5% to CHF2.41 million in the 2012 financial year, compared to the corresponding year before period.
Its assets under management rose by 9% to CHF1.66 billion in 2012.
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At the end of 2012, Kaiser Partner Group managed client assets worth CHF25 billion and employed 200 people at its offices in Vaduz and Zollikon near Zurich, according to its recently reported consolidated results for the 2012 financial year.
New business initiatives are already contributing to 35% of consolidated turnover, according to Kaiser Partner, showing improvement as it heads on Liechtenstein’s clean money strategy.
Newly acquired assets of CHF620 million were set against an outflow of CHF530 million, the latter being money that was withdrawn altogether in the wake of changes to the financial market or as a result of the group’s business policy, reported Kaiser Partner.
The private bank has a capital base with a core capital ratio (Tier 1) of 22%.
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Importance of banking secrecy
According to Kaiser Partner, safe assets are tax-compliant assets and banking secrecy is and will remain important for taxed wealth.
Kaiser Partner said, "In a changing digital world we want to protect and grow taxed assets carefully, sustainably, responsibly and discretely; we are well positioned to manage today’s multi-layered risks and to exploit tomorrow’s opportunities."
Servicing US clients
Kaiser Partner Financial Advisors AG, which is registered with the US Securities and Exchange Commission (SEC) and was set up four years ago in Zollikon, Switzerland, obtained good growth in 2012 and has set itself ambitious goals for 2013.
The company currently meets all the conditions needed for it to safeguard its clients fully legally under US and Swiss law.
Embracing the digital world
From the start of 2013 Kaiser Partner has been developing a series of e-initiatives, which are being tested and refined with a selected group of customers over the course of 2013.
At the beginning of 2013, the group acquired internet development firm Ringier Studios, which has 40 employees working in Zurich and Saigon.
Executive chairman Kaiser Partner, Fritz Kaiser, said: "The online age has changed the way we deal with information and the way we consume. Wealthy clients, like everyone else, buy, pay, talk and store things online. We strive to keep improving the client experience at Kaiser Partner."
