Facing reputational risk and poor prospects, private banking operations are bailing on Russia and encouraging its wealthy to park their assets offshore.
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For the first time, Asia’s super-rich have surpassed their North American counterparts in both population and wealth. China and Japan, in particular, stood out as wealth powerhouses despite a volatile year for Asian equity markets. Asia Pacific’s 5.1 million high-net-worth ...
U.S Trust’s 2016 Wealth and Worth survey of high net worth Americans (those with $3 million or more in assets) revealed a decidedly traditional bent among the country’s wealthiest individuals.
The so-called Panama Papers, more than 11 million leaked documents from a Panamanian law firm, are shining a spotlight on the scope and financial impact of the offshoring financial industry and global efforts to move assets to tax havens or less-regulated jurisdictions.