Switzerland’s Banque Heritagesaid on Monday it had taken a majority stake in Lausanne,Switzerland-based asset manager Meridian Wealth Management.
Source: Banque Heritage takes majority stake in Meridian Wealth Management
Swiss banks have now paid more than $1 billion in fines in the non-prosecution scheme to clear past tax evasion offences.
Source: US programme nets $1 billion from Swiss bank fines – SWI swissinfo.ch
There will be further consolidation in Switzerland’s banking industry now that most banks have reached settlements with U.S. authorities over alleged tax evasion by some clients, Julius Baer Chief Executive Boris Collardi said on Thursday.
Source: Julius Baer CEO sees more consolidation in Swiss banking | Reuters
Swiss private banks and wealth managers are worried about Switzerland’s ongoing issues with the European Union.
Source: European access concerns Swiss wealth managers – SWI swissinfo.ch
Pension fund cites negative impact of emerging market exposure
Source: Emerging markets wipe out returns at Switzerland’s Publica
The deal, completed for an undisclosed sum, will see a team of three and their client book move over, bolstering Bellecapital’s fledgling London office.
Source: Swiss boutique acquires Williams de Broë from Investec – Citywire
