In addition, successful measures against tax evasion as well as tightening regulatory rules have intensified global competition. Swiss private bankers are painfully aware of these issues and the resulting decline in revenues and stagnation in costs. In particular, small-sized Swiss institutions report high cost/income ratios. Nevertheless, Swiss wealth managers were successful in acquiring new client assets in 2010. This is demonstrated in the latest edition of “The International Private Banking Study”, published by the Department of Banking and Finance of the University of Zurich.
The tightening of regulatory rules and the strong efforts by various governments and international organizations to fight tax evasion have left clear marks on the international private banking industry. Traditional offshore centers, such as Switzerland or Liechtenstein, have suffered from a strong decline in wealth management revenues and, as a consequence, from increasing cost/income ratios. Among the nine countries and regions analyzed, Swiss private banks were the least efficient with an average cost/income ratio of 77 per cent in 2010. This represents a worsening of 17 percentage points when compared to 2007.Size is not the only criterion for success
The study was performed with the financial support from the Association of Swiss Commercial and Investment Banks (VHV/BCG). It represents the fifth issue of the „The International Private Banking Study“ previously published in 2009, 2007, 2005 and 2003.
The study is available free of charge on: www.bf.uzh.ch/go/pbsContacts:
Nathalie Huber | idw
Blockchain Set to Transform the Financial Services Market
28.09.2016 | HHL Leipzig Graduate School of Management
Paper or plastic?
08.07.2016 | University of Toronto
Researchers from the Institute for Quantum Computing (IQC) at the University of Waterloo led the development of a new extensible wiring technique capable of controlling superconducting quantum bits, representing a significant step towards to the realization of a scalable quantum computer.
"The quantum socket is a wiring method that uses three-dimensional wires based on spring-loaded pins to address individual qubits," said Jeremy Béjanin, a PhD...
In a paper in Scientific Reports, a research team at Worcester Polytechnic Institute describes a novel light-activated phenomenon that could become the basis for applications as diverse as microscopic robotic grippers and more efficient solar cells.
A research team at Worcester Polytechnic Institute (WPI) has developed a revolutionary, light-activated semiconductor nanocomposite material that can be used...
By forcefully embedding two silicon atoms in a diamond matrix, Sandia researchers have demonstrated for the first time on a single chip all the components needed to create a quantum bridge to link quantum computers together.
"People have already built small quantum computers," says Sandia researcher Ryan Camacho. "Maybe the first useful one won't be a single giant quantum computer...
COMPAMED has become the leading international marketplace for suppliers of medical manufacturing. The trade fair, which takes place every November and is co-located to MEDICA in Dusseldorf, has been steadily growing over the past years and shows that medical technology remains a rapidly growing market.
In 2016, the joint pavilion by the IVAM Microtechnology Network, the Product Market “High-tech for Medical Devices”, will be located in Hall 8a again and will...
'Ferroelectric' materials can switch between different states of electrical polarization in response to an external electric field. This flexibility means they show promise for many applications, for example in electronic devices and computer memory. Current ferroelectric materials are highly valued for their thermal and chemical stability and rapid electro-mechanical responses, but creating a material that is scalable down to the tiny sizes needed for technologies like silicon-based semiconductors (Si-based CMOS) has proven challenging.
Now, Hiroshi Funakubo and co-workers at the Tokyo Institute of Technology, in collaboration with researchers across Japan, have conducted experiments to...
14.10.2016 | Event News
14.10.2016 | Event News
12.10.2016 | Event News
21.10.2016 | Health and Medicine
21.10.2016 | Information Technology
21.10.2016 | Materials Sciences