Foreign and domestic private banks in Switzerland, Liechtenstein, Luxembourg and Monaco are expected to move some SFr475 billion (US$530BN) in client assets to competitors during the next three years. For example, a US bank in Switzerland no longer wanting to serve French clients could put its exit intentions on Catch and could be met with a response from a French bank looking to add French clients onshore or in Switzerland. Client confidentiality is maintained as individual client data is not submitted into the platform. The massive move by private banks to exit clients is a result of regulation, re-segmentation and repatriation of assets onshore. As regulation now forces HNW clients and their private banks to declare all money held offshore, costs to private banks in due diligence and cross-border marketing are proving too expensive.

http://www.euromoney.com/Article/3333344/The-SFr475-billion-offshore-private-client-transfer.html