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Swiss Bank Dynasty Member Strikes Out On His Own

Tom Burroughes

24 January 2019

A scion of Switzerland’s Baer banking dynasty is trying his luck by setting up his own financial firm, , there were 253 banks at the end of 2017, according to its most recent data.

That contrasts with a figure over 300 a decade ago. A period of negative official interest rates, the demise internationally of Swiss bank secrecy, and rising compliance costs have driven out marginal players and driven demand for economies of scale.