More and more
Crucial factors such as banking secrecy, diverse investment products and services have contributed to
Saudi Arabia accounts for about 40 per cent of the total wealth pool in the GCC followed by the
The product mix for asset allocation has not significantly changed since 2011, but demand for collateralized lending solutions is growing.
Independent in all aspects of business activities, the company pursues a corporate strategy based primarily on four cornerstones: A pure business model dedicated to private and investment banking, a distinct value proposition and service excellence focus, a truly open and managed open architecture product platform and a client-centric management culture, explained Spencer.
"We believe competitive pricing, enhanced return and a wider range of investments products give Swiss banking a significant edge over regional Middle Eastern banks," he stated.
"We believe independent asset managers will continue to thrive in the Middle Eastern markets, as they are not biased or bound to any single financial institution, this enables them to coherently diversify asset allocation, reduce transactional and custody costs to increase returns for investors," said Spencer.
Given its pure business independence, it is able to source the best solutions among the leading Swiss banks and provide its clients with lower transaction fees and superior returns. It solely relies on performance generated on client portfolios. Its balance sheet is never exposed and as a result,
According to Spencer, the company offers custody services for private and corporate clients in
It said total
According to the report, most of the assets of
"New money is coming from the
The report also pointed out that while important families from the Gulf tend to do their commercial banking with banks from the region, they prefer to keep their private affairs separate and offshore.-
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