Swiss Banks Call For Alpine Hedge Fund Push

Jan 18 2008 | 8:45am ET

If hedge funds are the future of wealth management, Switzerland could be in a lot of trouble.

That’s the warning issued yesterday by some of the country’s private banks, who fear that their country is in danger of losing its place as a world financial center, especially as a haven for the very wealthy. The group issued several suggestions to ensure that the term “Swiss bank” won’t be an anachronism by 2015.

“The masterplan… is a precondition for survival for us as private bankers,” Jacques Rossier, of the Geneva private bank Lombard Odier Darier Hentsch & Cie, said.

Among the bankers’ recommendations are tax incentives for hedge fund managers and simplified registration procedures. It also urged the Swiss Federal Banking Commission to study up on alternative investments, hiring experts in the sector.

Switzerland’s private banks are the largest repositories of foreign wealth in the world, with some US$460 billion under management. But hedge funds manage about US$2 trillion worldwide, with almost all based in the United States, Britain and Asia.


In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...