EU curbs hitting Swiss private banks 'for years'

[GENEVA] Geneva's private banks may have to wait years before they can prospect for business in the European Union from Switzerland and service clients across borders, according to a managing partner at the city's oldest bank.

The EU won't allow the banks to market wealth management services into the 28-member bloc, especially after the Swiss voted on Feb 9 to cap immigration, Anne-Marie de Weck, one of eight managing partners at Cie Lombard, Odier SCA, said at a British-Swiss Chamber of Commerce...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to