Switzerland to Remain World’s No. 1 Wealth Center, EFG CEO Says

Switzerland isn’t about to lose its status as the world’s preferred wealth management destination even if other places are seeking to catch up, according to EFG International AG’s Chief Executive Officer Giorgio Pradelli

“In our business — wealth management and private banking — Switzerland will remain the No. 1 location worldwide,” Pradelli said in a Bloomberg TV interview on Friday. That’s even though “there’s a lot of competition” and many other financial centers “are trying to emerge,” he said.