Hong Kong, Hong Kong S.A.R., October 30, 2010 --(PR.com
)-- 2nd Banking Leaders Forum, "Private Banking on the Brink of Transformational Change" (http://www.BankingLeadersForum.com), November 18th, New York City, will feature panel on "Witnessing the End of the Tax-Induced Offshore Business Model." 2nd Banking Leaders Forum aims to examine the issues facing Private Banking today; attendees will gain a clear understanding of future scenarios for the industry and share thoughts, ideas and perspectives on how the industry can move forward and meet client expectations while still contributing to the bottom line.
While the offshore business has traditionally been an essential part of private banking, it has recently come under increasing scrutiny, especially due to widespread perceptions that it enables tax evasion. In tandem with the G20 decision to crack down on tax havens, offshore locations are increasingly implementing standards of comprehensive tax cooperation and softening their banking secrecy. This change will accelerate the crisis-induced changes in the competitive landscape and will affect banking in offshore and onshore locations. Will offshore management of tax-neutral money become a thing of the past? Will the demand for offshore offerings cease anytime soon? Will considerations regarding security of funds, diversification and privacy protection still play a role in HNWIs' investment decisions?
2nd Banking Leaders Forum, "Private Banking on the Brink of Transformational Change," is produced by GoldenNetworking.net (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez.