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Swiss Private Banks Need to Double Assets to Survive, KPMG Says 2013-11-05 18:20:23.958 GMT
By Giles Broom and Louisa Fahy Nov. 5 (Bloomberg) -- About two-thirds of 39 banks surveyed expect survival to depend on two-fold increase in client assets, KPMG study shows. * Banks need to grow beyond a minimum 10 billion Swiss francs of managed assets to cope with more complex requirements from clients and regulators, KPMG says in e-mail * Most private bankers can expect pay to stagnate or decline as >40% of respondents forecast employee compensation to drop at least 15% by 2022: KPMG Full Story:NSN MVSXKO6K50ZV<GO>
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To contact the reporter on this story: Louisa Fahy in Washington at +1-202-624-1942 or lnesbitt@bloomberg.net
To contact the editor responsible for this story: Louisa Fahy at +1-202-624-1942 or lnesbitt@bloomberg.net