Our latest analysis of Swiss private banks looks at how 76 banks have split into two distinct groups: the stronger banks who are well positioned for the future and the weaker banks who are slowly disappearing. This distinction becomes increasingly relevant as we enter a new period of harsher economic conditions, characterized by high inflation, rising interest rates, and major geopolitical tensions.

In the past few years:

  • Strong banks have successfully repositioned themselves and made significant strategic and operational improvements which are reinforcing revenues and profitability
  • Weak banks have continued to decline and face an incredibly uncertain future, with a rising number of loss-making banks and an expected acceleration in market exits
  • Independent Asset Managers have gained considerable ground, taking over the smaller end of the wealth management industry as the largest IAMs together are already responsible for more AuM than all small private banks combined.

Christian Hintermann, Partner, Financial Services, sets out the highlights of the latest research conducted by KPMG and the University of St.Gallen.

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The Big 8 dominate Swiss private banking and are helping generate record levels of Net New Money and Assets under Management. Switzerland's stronger banks may find current growth rates unsustainable as they face fresh challenges in the tougher times to come. Weaker banks face even greater uncertainty and may not survive.

Philipp Rickert
Partner, Head of Financial Services

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