Lindemann Law

Dr. Ariel Sergio Goekmen-Davidoff on Switzerland’s Wealth Management Industry: Winning Or Losing Ground In Times Of Covid?

In the latest international wealth management centre report of Deloitte’s, Switzerland remains by Assets under Management (AUM) the largest centre worldwide, closely followed by the UK. Considering performance, Switzerland is leading before Singapore, Luxembourg and the UK, and whilst comparing competitiveness, Switzerland is again leading, closely followed by Singapore and Hongkong. In Z/Yen’s Global Green Finance Index (GGFI 6), which measures the quality and depth of green financial products across the world’s financial centres, according to quality, Zurich is in the lead, followed by Amsterdam and London. With depth, Amsterdam is in the lead, followed by Zurich, Copenhagen and then London. In the Global Financial Centre Index (GFCI), which evaluates and ranks 111 major financial centres, London is in 2nd and Zurich in 10th place. With regards to Brexit, arrangements have already been made between Switzerland and the United Kingdom: in a joint declaration of intent, the two nations reaffirmed the goal of a liberalisation and expansion of mutual market access in financial services. Whilst the regulatory environment in general tightens, Switzerland is the world leader in global cross-border wealth management, with a market share of about 27%. Total AUM in Switzerland grew by 13.8% in 2019 to CHF 7,893bn – but how does it look today and what does this mean for you?

 

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