Consolidation in the Swiss Private Banking Sector to be Discussed at Golden Networkings Private Banking Forum
Summary
Costs for running institutions will also rise in the years to come, in part owing to stricter regulatory regimes, leaving the larger banks with an advantage over their smaller rivals.### New York, NY, November 04, 2010 --( PR.com )-- The Swiss private banking sector, especially smaller financial institutions, will face increasing pressures in the years ahead and consolidations can be expected, a PriceWaterhouseCoopers study showed.Political tensions, including a global crackdown on the non- transparent offshore banking business, would likely also increase pressure on margins.Switzerland and other countries with banking secrecy have been facing increasing pressures from global economic powers to sign new tax deals with greater transparency clauses, as part of a campaign against tax evasion and fraud."Swiss private banking is on the verge of a fundamental change," PWCs Matthias Memminger wrote in the foreword to the report.PWC expects increasing consolidation among small and medium-sized banks in the coming years.2nd Banking Leaders Forum, "Private Banking on the Brink of Transformational Change", is produced by GoldenNetworking.net (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez.### Contact Information GoldenNetworking.net Edgar Perez 516-761-4712 http://www.GoldenNetworking.net Click here to view the list of recent Press Releases from Golden Networking Promote Your Business Press Release Pricing Email this page to a friend