Stories making the Swiss Sunday papers

How the loss of banking secrecy has hurt Swiss banks, Neo-Nazis and jihadists in the Swiss army, and the role of language and gender when picking cabinet ministers are all making headlines in Switzerland this Sunday.  Banking secrecy  Swiss banks have always maintained that since the collapse of banking secrecy Switzerland hasn’t lost its global market share of asset management. Not true, according to a study in the SonntagsZeitung.  The Swiss share of the offshore business pie – management of foreigners’ assets – has shrunk significantly in recent years. Security holdings of foreign private clients in Swiss banks have halved in ten years to CHF503 billion ($525 billion), says Gabriel Zucman from the University of California, Berkeley, and the study’s co-author.  Meanwhile, offshore business in Hong Kong increased sixfold over the same period. In addition, Hong Kong and Singapore combined have now overtaken Switzerland, according to the study.  Army extremists  The cases of ...
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