UBS Chairman Criticizes Swiss Wealth Management Market

UBS Chairman Colm Kelleher stated that the market in Switzerland is losing its appeal as a wealth management hub, ceding ground to Hong Kong and Singapore. He also warned of potential risks in the US insurance sector.

Colm Kelleher, chairman of the Swiss bank UBS, attacked the local market, describing it as losing its shine as a wealth management hub in favor of Hong Kong and Singapore. At the same time, he warned of looming risks in the US insurance industry.

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