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Profile Of Swiss/Liechtenstein Awards Judges - Professor Teodoro Cocca
Tom Burroughes
4 October 2013
This publication is holding the inaugural Switzerland and
Liechtenstein Awards for outstanding performance, both at the institutional and
individual level, in wealth management. (To view the full details of these
awards, see here.) A crucial part of the process of course is having a panel of
judges with the experience and knowledge to assess the entries. Here is Professor . So what are his views on what is happening in the Alpine
jurisdictions’ banking sectors? “The Swiss/Liechtenstein wealth management sector has to
transform its business model to fully comply with new international regulatory
standards. The management issues linked to this transformation process are huge
as the asset base is expected to decrease while implementation costs will rise,”
he said. “Furthermore, reputational issues and de-motivation of
personnel needs to be addressed carefully. For many players the worst has yet
to come and management needs to be ready for this rough ride,” he continued. “It would be great to see new business models emerge that are
able to attract exciting and future client generations. In order to do so
innovation must become a core competence for the wealth management sector.
Today the sector is very backward oriented and spends most if its time to solve
past issues,” Prof Cocca added.