The appeal of the Swiss financial center seen from Asia

Published on October 20, 2024 at 9:34 p.m. / Modified on October 20, 2024 at 9:35 p.m.

According to some financial observers, Switzerland’s predominance in the field of global wealth management, and particularly in Asia, is losing steam. What is it in reality?

One thing is certain: in the space of a decade, competition between financial centers has greatly intensified. More graphically, it seems that we have gone from a one-way road to a four-lane highway. According to consulting firm McKinsey, 57% of global gross domestic product (GDP) growth between 2015 and 2021 was generated by the Asia Pacific region. Wealth creation there was very rapid, and the private clients who benefited from it largely chose to keep their assets in their country of origin, or nearby, for cultural and practical reasons.

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