Citigroup on the Migratory Patterns of the Rich

Citigroup on the Migratory Patterns of the Rich: Switzerland has always been a magnet for the super-wealthy. In the last two years, in particular, more families and their wealth have moved to the country.… LaurenceMandrile Citigroup privatebanking

Switzerland has always been a magnet for the super-wealthy. In the last two years, in particular, more families and their wealth have moved to the country. Citigroup’s General Market Manager for Switzerland told finews.com who has been coming over and why.

This new money is flowing into Citigroup’s Swiss onshore business dedicated to Swiss nationals and residents with a minimum net worth of 25 million francs, as well as family offices from its Geneva and Zurich branches. The US bank’s Swiss booking center also serves clients in the Middle East, a region Mandrile sees as «a big opportunity, given the current price of oil and the energy crisis,» all boosting its economic growth.

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