Given the current situation, it seems clear that the Swiss financial place will eventually become smaller. Nevertheless, for assets transferred from generation to generation, stable countries are still a first choice. If you would be in Asia and if you would have saved money to hand over to the next generation of your family, where would you go with your assets? There is a chance that you may go to Singapore. Or you would go to Switzerland, like many families from Western Europe do, because Switzerland has been strong and stable country for centuries. Perhaps the Confederation is going through the worst period in decades. Swiss bankers record outflows, and it seems likely that this will continue for some time. However, one can also observe a huge influx, mainly from Asia and other emerging economies. These funds do not enter Switzerland directly, but through places like Hong Kong or Singapore, financial centres where Switzerland is well represented. The most important Swiss banks continue to pursue their strong “on-shore” strategy initiated since 2000. Switzerland remains attractive, which is positive. Internally, banks are under fire, and at least half of the population believes that bankers are not only crazy, but moreover overpaid. However, this phenomenon is perceived differently in Asia where Swiss banks are still considered the best in the world and where confidence is sky-high. This confidence can be attributed in large part to the confidence towards the country itself and its political system where all political parties are represented in government. The political system of Switzerland is well perceived and admired abroad …and as long as this lasts, the prospects are good! Written by: Stefan Zeiss