Financial Times
The decline of the Swiss private bank
Even a decade ago, worldwide clients flocked to Switzerland to find a discreet home for the cash they wanted to hide from the taxman
Laurent Gagnebin does not fit the traditional image of a Swiss private banker. Fifteen years ago, he worked as a manager at a luxury hotel in Gstaad. Now he is putting his hospitality skills to work as head of Rothschild’s Swiss private bank.
"We had a Swiss client who needed a lawyer in Tehran urgently. Within an hour, we had enlisted the help of a colleague in Dubai who was able to recommend one he knew well," Mr Gagnebin recalls at Rothschild’s sleek offices in a smart Zurich suburb. "Being a Swiss banker, a lot of it is still about soft factors."
To keep reading
please sign up for free!
Already have an account? Sign in here.
Editor's Picks
Euro reform
—
22.06.2018
Eurozone finance ministers back new powers for ESM
Benefits
—
20.06.2018
Luxembourg refutes cross-border unemployment plan
Tax
—
20.06.2018
UK companies to face pre-Brexit tax bombshell from EU
