Exclusive outtakes from industry leaders
Even for an American who’s not wealthy, Geneva has a reputation as a global centre for wealth management – the place the world’s rich come to stash their money and (they hope) make it grow.
But you don’t necessarily expect it to be so aggressive — after all, the rich tend to be demure when it comes to their banking.
Imagine one reporter’s surprise, then, on arriving in the airport in Geneva and seeing bank ads everywhere. Think of the casino adds in Las Vegas’s McCarron Airport or the technology ads in San Jose’s Mineta Airport: it’s the exactly the same in Geneva, only with wealth managers.
Look left – there’s UBS. Look right – there’s Julius Baer. Look up in the baggage queue – there’s a Swiss bank that emphasises a focus on the Arab world. A complete unscientific guesstimate suggests the display ads in the terminal run about 75 percent wealth management and 25 percent fine watches. (No surprise that every other storefront in the Ville Centre area of Geneva has watches on offer.)
By Tony Munroe
When markets boomed, India’s star was shining bright and deals were plentiful, but the hard landing means any recovery will be painfully slow.
Indian stock markets are still down more than 50 percent so far this year, making them the third worst Asian performer after China and Vietnam.