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Swiss private banks expect merger activity

A merger boom in on the cards in the Swiss private banking sector, to judge by a survey published by adviser KPMG, where nearly 80% of respondents expect consolidation.

Only 14% of the 30 leading Swiss private banks surveyed said current profitability and gross margins are sustainable. Forty per cent say that clients are pressing for fee reductions. Around 96% believe clients prefer transaparent and simple products.

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