Mid-tier Swiss private bank Vontobel is to
target American clients with declared assets through a new US
Securities and Exchange Commission-regulated unit called Vontobel
Swiss Wealth Advisors.
Based in Zurich, Vontobel Swiss Wealth
Advisors will be headed by Martin Steger and aimed at US private
clients living in or outside the US with declared assets.
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Non-US citizens residing in the US and
external asset managers will also be targeted, Vontobel said.
Stricter tax and regulatory requirements for
US investors inside and outside the US, linked to the UBS tax
investigations by US authorities, are forcing many Swiss banks to
either re-position themselves to service US clients or cut ties
with them.
A number of boutique asset managers, including
Maseco Private Wealth Switzerland and Kaiser Ritter Partner, in
Liechtenstein, are developing strategies for US individuals,
families, trusts and Swiss private banks with US clients.
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By GlobalData
