Wealthy Americans Seek Refuge From Donald Trump In Swiss Banks

(MENAFN- Swissinfo) Wealthy Americans both in the US and abroad are drawing up contingency plans to move assets to Switzerland amid uncertainty caused by the Trump administration. This content was published on March 24, 2025 - 15:31 3 minutes Mercedes Ruehl in Zurich and Josh Spero in London, Financial Times

Private bankers, multi-family offices and asset management groups said they had seen a large increase in clients wanting to set up Swiss-based bank and investment accounts, especially ones that are compliant with US tax rules.

Josh Matthews, UK-based co-founder of Maseco, which provides wealth management for Americans abroad, said that the last time he had seen this type of interest was during the financial crisis when there was a fear of US bank failures. It was happening now, he said, because of“the uncertainty of a Trump presidency”.

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A wealth manager involved with cross-border clients said they were currently helping a wealthy US family move between $5 million (CHF4.4 million) and $10 million to Switzerland.

The preparations point to the enduring strength of Switzerland as a financial centre, even after its neutrality became a source of fierce political debate in the wake of Russia's full-scale invasion of Ukraine. The country is still the world's top destination for cross-border wealth management.

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