Wall Street Eyes Moving Trading to Switzerland

With some restrictive financial-reform measures looming, several Wall Street investment banks are making contingency plans to move some of their trading operations to offshore locales such as Switzerland or Bermuda, several industry analysts said. "Absolutely, banks are exploring moving their derivatives trading businesses offshore – they will have to, if this bill passes," said Dick Bove, a banking sector analyst at Rochdale Securities. "It's not just a possibility, it's a certainty." The...Full Story
Commenting on this article is closed.