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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world UBS Group AG’s chairman blasted his home market of Switzerland as losing its luster as a wealth management hub to Hong Kong and Singapore, while also warning against looming risks in the US insurance industry. “Switzerland is facing a crossroads here, because it’s facing some major challenges,” Colm Kelleher told his fellow financiers at Hong Kong Monetary Authority’s Global Financial Leaders’ Investment Summit on Tuesday. “For the first time, it’s facing a major threat in global wealth management from centers like Hong Kong and Singapore,” he said.
