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Fortune

Jessica Coacci

CEO of $5.6 billion Swiss bank says country is still the ‘No. 1 location’ for wealth after voters reject a tax on the ultra-rich

Man on private jet (Credit: AzmanJaka-Getty Images)

Switzerland is doubling down on its status as a rich-friendly haven after rejecting a tax on the ultrawealthy. Despite competition from other countries, one banking executive says it will remain at the top of millionaires’ lists of destinations to migrate to.

“In our business wealth management and private banking Switzerland will remain the No. 1 location worldwide,” said EFG International AG’s chief executive officer Giorgio Pradelli in a Bloomberg TV interview on Friday.

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