Global tax transparency measures are forcing the secrecy-ruled Swiss banks to widen their operations into neighbouring markets.
Similar to major Swiss banks like UBS and Credit Suisse, who have already developed an on-shore base, small Swiss private banks are also planning to branch out to neighbouring markets.
Simon Netzle, a spokesman for the St.Galler Kantonalbank said that this kind of trend has already started and their project has taken more than two years.
