What’s your USP? Tax evasion?
Imagine if tax evasion made up a significant proportion of your whole business. How would you feel about that?
According to KPMG, as much as 80% of the Europeans’ money in Switzerland is undeclared. In all, KPMG reckons that tax evasion could represent up to 25% of Switzerland’s total private-banking market.
Guess it depends on what it means for your clients:
Bank secrecy in itself cannot be a value proposition,” said Walter Berchtold, head of private banking at Credit Suisse, at a presentation …
Imagine if tax evasion made up a significant proportion of your whole business. How would you feel about that?
According to KPMG, as much as 80% of the Europeans’ money in Switzerland is undeclared. In all, KPMG reckons that tax evasion could represent up to 25% of Switzerland’s total private-banking market.
Guess it depends on what it means for your clients:
Bank secrecy in itself cannot be a value proposition,” said Walter Berchtold, head of private banking at Credit Suisse, at a presentation recently. “It is important to clients, but the tax angle of it cannot be the driver.”
Hmmm, clearly not.
WSJ via Dealbreaker
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