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myprivatebanking

August 16, 2011

Switzerland may have renewed its reputation as a safe haven for investors in the last few years, but rich Asians are increasingly keeping their money in local financial institutions as the Alpine nation’s appeal as an offshore centre diminishes for these investors.

Switzerland may have renewed its reputation as a safe haven for investors in the last few years, but rich Asians are increasingly keeping their money in local financial institutions as the Alpine nation’s appeal as an offshore centre diminishes for these investors.

At a time when wealthy Europeans are pulling offshore accounts from Switzerland, the news that Asians are keeping more of their money at home looks set to further undermine Switzerland as an offshore financial centre.

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