Frank Salvato
For more than a century, wealthy families did not simply deposit funds with Swiss banks—they sought a sanctuary. Switzerland offered what few jurisdictions could promise: neutrality in turbulent times, stability amid political swings, and a near-sacred respect for private capital and secrecy.
Switzerland’s standing as a financial sanctuary has floundered. Political gamesmanship and an increasingly aggressive compliance regime have combined to reshape the country’s once-unassailable brand. For global family offices and ultra-high-net-worth individuals who require discretion and predictability, Switzerland is no longer a viable choice.
The most dramatic rupture came in March 2023, when Credit Suisse collapsed and was forced into an emergency takeover.
No comments:
Post a Comment