Brexit favorable occasion for Switzerland

Switzerland will benefit from Brexit: Boris Collardi, CEO of Zurich-based banking group Julius Baer is fully convinced. "I'm virtually certain that Switzerland will take advantage of Brexit" Collardi said in an interview published today by Le Temps. "In terms of capital flows, persons domiciled in the United Kingdom or who have decided to use the British platform as a point of reference questions will arise about their future status of resident and the willingness of the authorities to loom as an attractive place for business. They may decide to resort to Switzerland not to put all your eggs in one basket. "

He added that "the message given from London to the EU can not be ignored. I hope this will allow us in the medium term to renew our message and to obtain concessions in terms of access to the European market. "

Yesterday, in a statement, the Swiss bank said it increased assets it manages for clients in the first half of this year, as it bulked up on staff and its overall results were bolstered by the U.K.'s vote to leave the European Union. Julius Baer adjusted net profit rose 5% in the first half compared with the first six months of 2015, as assets under management rose 4% from the end of last year to reach 311 billion Swiss francs ($314.9 billion).