Insights Issue 14: American horizons
Diligence is the mother of good luck.
Preserving wealth across generations
Wealth, when carefully stewarded, has the power to create opportunity, security, and a lasting legacy. Yet history has shown that without order and foresight, even great fortunes can diminish. As Mayer Amschel Rothschild wisely counselled his son, "Lack of order will turn a millionaire into a beggar." This sentiment remains as relevant today as it was in the 18th century.
For already 14 years, I have had the privilege of partnering with our clients to navigate through the complexities of wealth management. In that time, I have seen first-hand how the most successful families approach wealth not as a static asset but as a responsibility – one that requires careful planning, adaptability, and a clear vision for the future.
In this edition, we delve into the evolving nature of wealth transfer. We explore how generational shifts are reshaping the financial landscape, particularly as Millennials and Generation Z (Gen Z) bring new priorities and perspectives to wealth management. We also examine the broader implications of wealth redistribution on a global scale and consider how economic and political trends – ranging from trade wars to tax reforms – are influencing markets and investment strategies. Additionally, we look at practical strategies for navigating estate planning and the complex realities of intergenerational wealth transfer.
At its core, our role as advisers is to help clients ensure their wealth not only endures but thrives across generations. A family's vision and shared purpose can create a cohesive strategy that allows family wealth to endure. Establishing clear parameters for how the family's wealth should be utilised can help avoid conflicts and preserve the family's legacy.
Sharing knowledge and experience across generations can help ensure that the family's values and traditions are passed down along with their wealth. The key to this is thoughtful preparation as well as a proactive approach and ensuring that every decision aligns with long-term goals.
We hope this edition sparks meaningful conversations and equips you with the insights needed to navigate the future with confidence.
As always, we remain your trusted partners in safeguarding and growing your legacy.
Laurent Gagnebin
CEO, Rothschild & Co Bank AG
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Insights Issue 15Shaping tomorrow's great wealth transfer
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Building bridges
An interview about Swiss-American business and investment opportunities
Despite their vast difference in size, Switzerland and the United States share a long-standing, deep-rooted history. In the aftermath of the American Civil War, thousands of Swiss citizens celebrated the Union’s victory, reflecting a strong sense of solidarity. In 1865, 20,000 Swiss men signed a condolence letter mourning the death of Abraham Lincoln — an extraordinary gesture at a time when national identity was still forming, and signing petitions was far less convenient than today. Canton Aargau’s government addressed the U.S. as “our great sister republic across the ocean,” a sentiment echoed by the U.S. ambassador, who praised Switzerland’s unwavering friendship toward its "larger sister republic."
In this interview, Christoph Besmer, Switzerland’s Trade Commissioner and Head of Investment Promotion in the United States, shares his insights on the evolving Swiss-American relationship, offers a unique perspective on cross-cultural business interactions, and discusses the key factors shaping the future of economic collaboration between the two nations.
Q1. How would you describe the current state of the U.S.-Switzerland relationship?
It is safe to say that the relationship of the two “sister republics” has remained stable and based on mutual trust in recent years, despite occasional disagreements on global economic policies and tax regulations. The U.S. values Switzerland's role as a neutral mediator in international conflicts. Both countries share common values and strong economic ties, continually benefiting from their partnership. Switzerland ranks as the seventh-largest foreign direct investor in the U.S., with investments exceeding USD 330 billion. Notably, since 2021, the U.S. has been Switzerland’s most important trading partner.
Q2. What factors attract U.S. companies to invest in Switzerland?
The Swiss Business Hub USA is tasked with speaking to executives of U.S. companies who have a potential interest in international expansion and/or in restructuring and optimizing their global set up. Switzerland is one of the world’s leading locations and top positions in international rankings testify to this. Switzerland is not an inexpensive country, but a potential investor has to weigh various factors when evaluating a location. There are numerous good reasons to locate a business in Switzerland: Chiefly, cutting-edge innovation and technology, a liberal economic system, political stability, close links with foreign markets, excellent education and healthcare systems, an outstanding infrastructure, a high standard of living, and a competitive tax system provide a strong mix of hard and soft location factors. There is a strong local ecosystem available to tap into in key industries where both countries excel, such as health, finance, digital worlds and food tech, among many others.
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