Speaking at the Barclays Global Financial Services Conference in New York, Credit Suisse finance chief, David Mathers, said that the bank had already seen CHF32bn in net outflows from mature offshore markets in the three and half year since the start of 2009.
Mathers said that this outflow was due, in part, to tax disputes.
Net outflows of CHF32bn already seen
Almost CHF8bn of outflows in the first half of 2012 were due to the bank’s integration with Zurich-based private bank, Clariden Leu, the senior executive disclosed.
However, the development of international booking centres has more than offset this outflow of client assets from mature offshore markets.
Mather said international booking centres have pulled in almost CHF100bn in net new assets in the same three and half year period since the start of 2009.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Source: Private Banker International