Yves de Montmollin: «It's a shock to the whole world»

Neuchâtel's Banque Bonhôte has a Swiss and international client base. Its CEO, Yves de Montmollin, is concerned about Switzerland's reputation as a banking center after the recent fallout of the country's second-largest bank Credit Suisse. 

For Yves de Montmollin, it is clear that «the rule of law has been comprised in Switzerland» in the way Credit Suisse has been taken over by UBS.

The CEO of Banque Bonhôte sees this as a threat to the nation's banking industry and says that his international clients have expressed concern over this.

Luckily, Swiss banking can count on a diversified landscape of smaller and larger institutions, which will help it get through the crisis, he says.

The CEO of the Swiss private bank, which manages 6 billion francs in assets, also says that right now it is an advantage to have its headquarters outside of Zurich away from the turmoil engulfing Credit Suisse.