""In our business wealth management and private banking Switzerland will remain the No. 1 location worldwide,""
""I have been bullish about the Swiss financial center also in years when many people were even more pessimistic than today,""
Switzerland's voters rejected a proposed national tax on inheritances or gifts above 50 million francs by a 78% margin. The proposed revenues were intended to fund climate change responses and address wealth inequality and would have affected roughly 2,500 people. The wealth concentration is high: the top 300 residents hold about 850 billion Swiss francs (just over $1 trillion), and Switzerland ranks about 145 millionaires per 1,000 adults. Private banking and wealth management leaders expect Switzerland to remain a leading hub for the wealthy despite rising competition from the Middle East and Asia. Global millionaire relocations are projected to increase in coming years.
Read at Fortune
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