CEO Octavio Marenzi of Opimas, a large capital markets consulting firm was on CNBC.

“Switzerland’s standing as a financial center is shattered,” Marenzi reportedly said, adding that “The country will now be viewed as a financial banana republic.”

“The Credit Suisse debacle will have serious ramifications for other Swiss financial institutions. A countrywide reputation with prudent financial management, sound regulatory oversight and, frankly, for being somewhat dour and boring regarding investments, has been wiped away,” Marenzi stated.

The outflow of capital from BRICS countries in the aftermath of Switzerland ditching its historic neutrality and seizing some Russian assets has the entire world gun shy. Dubai and other Emirates are the fasting growing financial centers in the world.

I propose a new advertising campaign. Gun shy? Dubai!

https://www.cnn.com/2023/03/23/investing...index.html

This merger is really bad for Switzerland. These bank mergers rarely turn out well. Meanwhile Switzerland will be overexpose to one country and the financial industry of the country takes a huge step down in status, having only 1 big player.