Swiss Losing Ground Faster to Asian Rivals in Wealth, BCG Says
Switzerland is facing a stiffer challenge to its position as the world's top wealth management center from Asian rivals, according to a Boston Consulting Group report.
Assets last year increased by 6% to $2.7 trillion, compared with a 9.6% gain at main competitor Hong Kong, which is fast closing in on its Swiss rival, according to BCG's Global Wealth Report published Tuesday. Singapore and the United Arab Emirates recorded the strongest growth in assets, at 11.9% and 11.1% respectively.
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