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EFG International launches Asia desk in London to attract wealthy clients
EFG International is establishing an Asia desk in London to cater to affluent Asian clients shifting assets from the US amid geopolitical changes. Led by Oliver Balmelli, the new team aims to grow to ten members and manage around 3 billion francs in client assets, capitalizing on the increasing demand for safe havens in Europe.
efg international launches asia desk in london to attract wealthy clients
Swiss private bank EFG International is establishing an Asia desk in London to cater to wealthy Asian clients relocating their assets from the US amid global financial and political turbulence. The new team, led by Oliver Balmelli, aims to grow to ten members and is expected to manage significant client assets, reflecting a trend of Asian investors diversifying into Europe. Other Swiss banks have also expanded their Asian desks in response to this demand.
efg bank targets wealthy asian clients with new london team
Swiss private bank EFG is establishing a London team to attract wealthy Asian clients seeking to diversify their investments amid rising geopolitical tensions and the US trade war. The new team, led by Oliver Balmelli, aims to capitalize on London's status as a key wealth management hub, targeting approximately SFr3bn in assets within three years. This move follows a trend of banks enhancing their presence in London, despite challenges posed by Brexit.
swiss national bank signals end of rate cut cycle with latest decision
The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, potentially marking the end of its rate-cutting cycle amid heightened economic uncertainty. Analysts suggest that while further cuts could occur, the current move reflects a cautious approach to stabilizing inflation and responding to international pressures. Many expect the SNB to maintain this rate for the foreseeable future, with negative rates remaining a distant possibility.
swiss national bank cuts guide rate signaling end of rate cut cycle
The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, marking a potential end to its rate cut cycle amid rising economic uncertainties. Analysts express mixed views, with some anticipating further cuts if inflation trends worsen, while others believe the SNB may pause further reductions, citing stabilized domestic demand and limited monetary policy tools. The decision reflects a cautious approach to navigating geopolitical and trade risks impacting the Swiss economy.
swiss banks struggle to maintain global brand value amid rising competition
Swiss banks have seen a collective brand value increase of 11% to USD 20.7 billion, yet none made the global top 10, indicating a decline in their international standing. UBS remains the most valuable Swiss brand at USD 14.1 billion, bolstered by its acquisition of Credit Suisse, but still trails behind the Industrial and Commercial Bank of China, valued at USD 79.1 billion. Notably, Pictet experienced significant growth, with a 31% increase in brand value.
swiss banks struggle to maintain global brand value amid rising competition
Swiss banks have seen an 11% increase in brand value to $20.7 billion, yet none made the global top 10, highlighting a decline in international standing. UBS leads as the most valuable Swiss bank at $14.1 billion, but remains significantly behind global leader ICBC, valued at $79.1 billion. Notably, Pictet experienced a remarkable 31% growth in brand value.
swiss national bank cuts rates amid global economic uncertainty
The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, signaling a potential end to the cycle of rate cuts among major central banks amid global economic uncertainty. Analysts express mixed views, with some predicting further cuts if disinflation persists, while others believe rates will stabilize, reflecting the SNB's cautious approach to inflation and economic conditions. The next meeting in June is deemed crucial for future policy direction.
ubs retains majority of credit suisse assets after market shift
UBS has retained two-thirds of the assets previously invested in Credit Suisse funds following its acquisition of the bank, maintaining a 35.4% market share in Switzerland. While UBS's market share is slightly below the combined total of both banks before the collapse, it has solidified its leading position, with Swisscanto, BlackRock, and Pictet gaining from the remaining assets.
Swiss private banking identity index reveals leaders and laggards in competitiveness
The Swiss Private Banking Identity Index 2025 evaluates 59 Swiss private banks, focusing on their identity as a strategic tool for competitiveness. Only 14% are classified as "Leaders," while 59% are "Laggards," indicating a need for stronger identity formulation and communication. The top three banks—Vontobel, Pictet, and Banque Heritage—demonstrate that a strong identity correlates with higher growth rates, emphasizing the importance of understanding and expressing a bank's unique culture and values.
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