ZURICH - Though Hong Kong has overtaken Switzerland as the number one in cross-border wealth management, rather than enter panic mode, Swiss banks seem unruffled — feeling it bolsters the case against looming tighter banking regulations.
Hong Kong is now the world’s largest cross-border booking centre thanks to inflows from mainland China, strong initial public offering activity, and equity market gains, said a study published last week by the Boston Consulting Group (BCG).
