Wealth Management - USA vs EU
Hello Everyone,
I was wondering how different wealth management is between the USA and EU? Are international employee transfers possible and at all common?
Any comments would be appreciated.
For WM, in my opinion, USA is a way to go. In Europe this service is relatively fresh, some folks still consider keeping vast sums of money in Switzerland at 3% to be WM. Banks like Citi or Barclays offer wm for masses, and it doesn't bear much resemblance to the real service. In the US you have a wide selection of small/medium firms as well as all renowned European banks. Beside, managing wealth has a long history in this country.
EU is a no-no. I would stay away from that, as tomm29 said above, it's a relatively new thing there. Switzerland, however, I would say is on par with the US in terms of services.
Would you also say that pwm at the big international banks is much different in Europe than in the US?
I can't say about that as I only really know about the small Swiss banks. Are you talking about Barclays Wealth, JP Morgan PB, etc...?
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