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Zurich faces uncertain future as financial hub

This content was published on May 12, 2003 On Monday, a survey of 105 European private banks said Switzerland’s private banking system was threatened by an industry slump. The IBM Business Consulting survey said the traditional European “offshore” banking model – which hinges on banking secrecy – was dying. Report author, Ian Woodhouse, estimates that between 55 and 60 per cent of overseas…