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Fabienne Bogadi
Phone +41 22 807 08 00
Fax +41 22 320 12 89
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Free access to the markets where bank clients reside is essential
The members of the Association of Swiss Private Banks (ASPB) employ close to 5’400 persons in Switzerland and manage more than 800 billion in assets, which is more than 11% of the funds deposited in the country. An important part of their clients is domiciliated abroad, mainly in the EU, where 40% of the foreign private wealth deposited in Switzerland come from. It is essential that clients can be served in their country of residence. Having to wait for them passively in Switzerland represents a competitive disadvantage which is likely to worsen over time, as a result of an increasingly protectionist legislative framework. This is why the ASPB insists on the strategic importance of improving market access.discover