2023-10-15 18:21:06
Published on October 15, 2023 at 8:21 p.m. Modified on October 15, 2023 at 11:10 p.m.
Where did the 211 billion francs that left Credit Suisse go between October 2022 and June 2023? The wealth management division having lost 167 billion, or a quarter of its recorded assets at the end of September 2022, a Vontobel analyst studied the inflows of funds into Swiss wealth management in the first half of the year. Collectively, regional and cantonal banks recorded above-average inflows, particularly in the canton of St. Gallen. The Vontobel study also mentions Julius Baer and LGT among the main winners of the market movements. Without forgetting UBS, which received an additional 44 billion dollars in the first half, including 16 billion in the second quarter, just following the fall of Credit Suisse on March 19.
Also read: Credit Suisse collapse reveals ‘too big to fail’ regulatory flaws
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