Addvision WM & Massena Group granted regulatory approval to launch into the UK market.
Swiss bank Vontobel saidon Friday it had agreed to buy Italmobiliare-owned Finter BankZurich to boost its wealth management business with Italianclients.
Swiss banks managed CHF6.66 trillion in client assets last year, but the number of banks and staff fell.
A study by KPMG AG Switzerland in cooperation with the Institute of Management at the University of St. Gallen.
The growing gap between Swiss private banks; An Overview of performance; Key findings – Bank performances become even more polarized; Macro-developments; M&A stalls in 2015 while banks exit the market or fail to commit to strategic change; Analysis of performance and trends – Profitability, Assets under Management, Revenue development, Cost development, Balance sheet and regulatory capital…. Link to Full Report
Nearly a quarter of Swiss private banks are expected to be sold or collapse altogether in the next few years.
The new head of Barclays Plc’s Swiss unit is pushing private bankers in Geneva and Zurich to double client assets in four years as international competitors exit the world’s largest hub for offshore wealth.
About 30% of the Swiss private banks now in business will disappear through acquisitions and liquidations in the coming three years, according to a study by KPMG Switzerland and the University of St. Gallen.
Swiss private bank Pictet onFriday posted an 11 percent rise in first-half consolidatedprofit despite a drop in its assets under management or custody.Geneva-based Pictet said consolidated profit