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Swiss Banks Buck Secrecy Squeeze With $53 Billion of Inflows

Swiss private banks withstood assaults on client secrecy by the U.S., France and Germany to attract more than 50 billion francs ($53 billion) of assets since the end of 2007.

While UBS AG customers withdrew 248 billion francs during the past two and a half years, those redemptions were exceeded by net flows into the nation’s 19 other biggest banks by client assets, according to data compiled by Bloomberg.