UK now main rival to Swiss private banks (FT.com)

(from the FT.com) Britain’s emergence as the strongest European rival to Switzerland for private banking and wealth management has been highlighted by figures showing that UK assets under management rose 11.4 per cent to £524.4bn last year.  The sector, which provides investment services and advice to the wealthiest people, employs close to 23,000 staff in the UK, contributed £3.2bn to the economy and paid £1.2bn in taxes, according to a debut report from the British Bankers’ Association… Link to Article