Why Middle Eastern wealth managers should consider a move to Switzerland

If you’re a wealth manager with a large pool of Middle Eastern clients, it might be an idea to target a job application towards Switzerland.

We’ve mentioned previously that there’s a large proportion of Middle Eastern wealth that is booked offshore – primarily in Switzerland – and this is now being reflected in where headcount is based.

Credit Suisse has moved its head of Middle East private banking equity research division from Dubai to Geneva, according to  Reuters, and other analysts are based covering the region from there.

Then there’s Julius Baer, which last month announced the appointment of Daniel Savary as its new head of Eastern Mediterranean & Middle East based out of Zurich.

Yesterday, Lloyds TSB Private Banking named Anthony Valgimigli as head of its head net worth business in the Middle East. He’ll be based in Geneva.