The private banker and his foreign clientele

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The clientele of Geneva’s private bankers became international over the course of the twentieth century. To the Geneva and Swiss families were added French, Italian and British clients, followed by clients from Latin America, the Middle East and Asia. Such a clientele demands particular skills: command of several languages, knowledge of foreign legal and tax systems, availability for frequent travel, and the ability to understand different cultures.

Partners and relationship managers travel to meet their clients in their own countries. In Geneva they receive visitors from all over the world. They maintain relations with foreign lawyers, notaries and tax advisers. International wealth management becomes a business of networks, in which knowing people counts as much as knowing the markets.

This internationalisation also exposes bankers to new risks. Foreign clients are subject to the laws of their country of residence, which may prohibit the holding of undeclared assets abroad or impose exchange controls. Bankers who solicit these clients in their home countries may breach local rules on cross-border financial activities. The crisis of banking secrecy, which Part E will trace, revealed the scale of these risks, which led several institutions to severe sanctions.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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