Regulation and compliance is plaguing Swiss private banks, with profits and reputations suffering. This comes as London and Singapore challenge its leading position as an offshore centre. Anthony Climpson-Stewart looks at how this banking powerhouse can navigate the turmoil
Switzerland’s heavily saturated banking market has meant getting a solid footing domestically is a major challenge. The competition comes not just from local banks, but from foreign players who have bought numerous Swiss banks to enter into the market.
The amount of high net worth wealth in Greater China is rising in at between 15-30% a year, but commentators tell Anthony Climpson-Stewart client dissatisfaction is also on the rise. Banks are failing to grab a larger share of wallet as clients in the region become increasingly frustrated by staff inexperience and turnover.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox