The oldest Bank in the city of Geneva is Lombard Odier also announced plans to increase 20% of assets in Asia every year. A consortium of other banks in Geneva is UBP then bought property management company Coutts International Corporation from RBS, with the desire to promote the business in the Middle East and Singapore.Overall, banks in Switzerland are under step 2 of the biggest banks UBS and Credit Suisse is in reducing the dependency on the source of funds from foreign (offshore). Instead, they are redirected to the property management services for wealthy international as well as the large retirement abroad.Mr. Mark Branson-who runs the agency that oversees the financial market in Switzerland (FINMA) said that changing the law on banking secrecy brought positive effects for the image of Swiss banks on international markets.
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