Rahim Daya: «Clients aren’t asking questions about Switzerland»

Rahim Daya oversees Barclays wealth management in Switzerland and the Middle East. He gives finews.tv insight into how his clients feel about the failure of Switzerland’s second-largest bank.

Barclays Private Bank Switzerland’s CEO, Rahim Daya, says the Credit Suisse takeover by UBS is not a cause for concern for his clients who still appreciate the Swiss financial center for its continuity, stability, and safety.

In fact, the swift solution found by the country’s government, regulator, and central bank, further support the narrative of the center’s stability, he says.

Daya also speaks about the challenges of onboarding clients from emerging markets, following the bank’s decision to take on a portfolio of sub-Saharan African (excluding South Africa) clients from Credit Suisse last year.

Correction (video): Following the collapse of Credit Suisse, systemically relevant banks left in Switzerland are UBS, Raiffeisen, Postbank and Zuercher Kantonalbank.