Wealthy Americans seek refuge from Trump in Swiss banks

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The story "Wealthy Americans seek refuge from Trump in Swiss banks" was covered 4 days ago by Financial Times, a news publisher based in United States.

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Financial Times 4d ago

Wealthy Americans seek refuge from Trump in Swiss banks - Financial Times

Quick Summary:

A wealth manager involved with cross-border clients said they were currently helping a wealthy US family move between $5mn and $10mn to Switzerland.

Pierre Gabris, founder and managing partner of Zurich-based Alpen Partners, which has an entity registered with the US Securities and Exchange Commission called Alpen International, said he had seen a lot of inquiries from American people considering their options in terms of residency and where to put assets.

What had changed in the past few years, they said, was that Swiss financial institutions had started to get comfortable covering US customers after dealing with tax issues that had cost Swiss banks billions of dollars in fines.