Published: February 13 2008
Despite stormy headlines about US sub prime losses, the outlook for most of Switzerland's banks is bright; and even sunny for private banking.
So says Financial Times Haig Simonian in a piece published today in which he interviews Credit Suisse analyst Thomas Kalbermatten and Swiss Finance Institute Professor Giovanni Barone-Adesi (photo).
Net new money in private banking at Julius Baer grew by SFr12bn last year.
Barone-Adesi highlights deficiencies in risk management methods that allowed banks to over expand their US investment banking activities.
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