Donald Trump's potential return to the presidency could lead to a more dynamic US economy, with higher growth and inflation, according to economists. While sectors like energy, defense, and technology may benefit, concerns about geopolitical tensions and a fragile transition period could create market volatility. Experts warn of Trump's desire for greater control over monetary policy, raising questions about the integrity of the US financial system and democratic institutions.
Geneva-based private banking group CBH has appointed Simon Benhamou as the new CEO, succeeding Philippe Cordonier, who is retiring. Alfonso Liparulo has been named the Head of Private Banking and will join the Executive Board. The Benhamou family retains majority control of the bank, which employs around 300 people and manages client assets totaling 14.3 billion Swiss francs.
Swiss private banking is undergoing significant transformation as many institutions face challenges from declining margins, regulatory pressures, and reputational damage due to scandals. The trend of family-owned banks relinquishing independence is accelerating, with notable mergers and sales, reflecting a shift in the industry landscape. Factors such as high operating costs, outdated clientele, and a lack of digital innovation are driving this evolution, suggesting that the future of many private banks is uncertain.
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