Is Union Bancaire Privée’s (UBP) purchase of ACPI Investments the latest chapter in an ongoing attempt of Swiss wealth management firms to reposition themselves for a post-Brexit future, as suggested by the UK financial media?

Probably not, although Swiss wealth management firms have become more active in the UK market in recent months. Both Julius Baer and Lombard Odier have signalled their intention to expand their operations in the country for example.

To conflate Swiss banks’ international expansion with Brexit, however, is probably just the latest example of a journalist’s use of ...