Sitting comfortably – Swiss lawyers benefit as Gnomes of Zurich come under attack
It is no exaggeration to say that the Swiss financial market – including corporate lawyers – has had the jitters of late. The fall of the private bank Wegelin, coupled with the indictment by the US authorities of former Niederer Kraft & Frey partner Edgar Paltzer, has certainly caused a stir, especially in the banking sector. The once fabled image of private Swiss banks ready to cut favourable deals and hide the money of the rich and famous from prying eyes and international tax authorities is without doubt crumbling. So where does this leave Switzerland's legal powerhouses?
Despite jitters over the US targeting of Switzerland’s famously private bankers, the country’s law firms are poised to profit from the resulting surge in regulatory and compliance work, writes Helen Mooney
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651