After a few critical posts, in the present climate, a homage to the financial industry in Switzerland, and this is when it is more en vogue to portray the Swiss banks (especially Credit Suisse) badly.
Over the years, I have had extensive experience with foreign banks and their operational capabilities. Once wealthy clients have overcome the never-ending compliance hurdle, they will find access to numerous stock exchanges or investment fund jurisdictions.
The holding of foreign currencies or, in particular, the efficient handling of any securities, regardless of where they are issued, is a true speciality of Swiss banks. Maintaining such a professional infrastructure is a masterly achievement and requires excellent specialists in the operational area. The leading banks, UBS and Credit Suisse, are long-time mentors and educators for the entire industry.
If you live with Swiss banks, you overlook this substantial advantage, especially compared to banks in developing countries. So it isn’t easy to imagine one cannot subscribe to one’s desired investment fund at a bank or that access to a far-flung stock exchange is not on offer. I worked for foreign banks for several years, and the benchmark : The Swiss private banks.
As you would expect, other, predominantly European financial institutions in typical private banking hubs can keep up because they are under pressure from the Swiss banks. But the leaders remain comfortably in the lead.
Source: LinkedIn
24Jul2024
