Swiss private banks are expanding their Asia-focused teams onshore in Switzerland, after a sharp rise in referrals and inquiries from the region during the past two years.
Bankers said Asian family offices and ultra-wealthy individuals were increasingly shifting their money to Switzerland, seeking direct relationships and a haven for assets including physical gold in vaults.
Clients want their investments to be legally booked and held in Switzerland even if they live and work elsewhere, the bankers said.
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