Gottardo to go

In arguably one of the contrarian strategies of our time, a private bank decides the future is in Italy not Asia.

If you asked a straw poll of private bankers where they see the greatest growth in the next 10-20 years in assets - Italy or Asia - there would probably be few that would say the former.

However, a few days ago Banca del Gottardo announced internally that its own shareholder, Swiss Life had drawn that very conclusion.

Banca del Gottardo opened up its private banking operations in Hong Kong in 1999, under the auspices of its former shareholder, Sumitomo Bank. Swiss Life then bought 99.84% of the Swiss-Italian private bank only days later from Sumitomo. Finally it has decided enough is enough, and will close its Asian office.

Head of Asian private banking, Thomas...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222