Has the increased scrutiny surrounding Swiss bank accounts caused banks to second guess expansion plans in the region? Maybe.
Although JPMorgan Chase (NYSE: JPM) recently announced plans to grow headcount in the region targeting the world’s wealthiest customers, a key competitor may be vanquishing plans altogether. Blick newspaper reported that Goldman Sachs (NYSE: GS) isn’t using any of the almost 3,000 square meters of office space it rented about a year ago in Zurich. The newspaper did not note where it got the information, but this news has led many to question Goldman’s outlook for the area.The bank had planned to rent space for 200 additional people, the newspaper said, citing reports from a year ago. It’s unclear when the tenant will move in, the paper said, citing the canton of Zurich, the owner of the property.
