Switzerland’s lead in international wealth management narrows, study finds

Switzerland continues to be the top choice for managing the assets of international private clients. However, a Deloitte study reveals that its lead over the UK and the US has narrowed considerably. The significant outflows triggered by the Credit Suisse crisis have played a role in this shift. According to the “Deloitte International Wealth Management Centre Ranking” study released on Wednesday, international clients’ assets totalling $2.174 trillion (CHF 1.885 trillion) were booked in Switzerland in 2023. Get the most important news from Switzerland in your inbox. This accounted for about 21% of assets under cross-border management globally. However, four years ago, the proportion was still at 24%, according to Deloitte. The study found that the international wealth management centres in the United Kingdom (UK) ($2.166 trillion) and the United States (US) ($2.109 trillion) held only slightly fewer assets. Hong Kong ($1.004 trillion) and Singapore ($730 billion) trailed further ...