Vol 6 Chapter 725: Unprecedented importance

At 10:30 in the evening, cars passed quietly on this street where famous wealthy people from all over the world gathered.

Even in the car, even those who really drank a few drinks at the dinner party, who were already a little bit tall, did not speak loudly. They kept quiet when passing through this always quiet street. It was they who treated the rich people beside the street. Respect.

These people who attended the dinner at Feng Yiping's family may despise the rich and powerful, but they will definitely respect wealth.

But for ARM CEO Warren East, he knows that some things have completely changed, and after today, other people on this street will not bring him too much pressure.

At the same time, he believed that there should be many people like himself, after tonight, there will be enlightenment.

Peter Bauer knew very well at this time. He originally thought that some of Mr. Luo's practices and decisions today had no bottom line, but he did not expect that the CEOs of the two banks, UBS and Credit Suisse, would actually be ill to Feng Yiping. In this way, we rushed to fawn together.

You know, these two are the world's largest private banks, the world's largest foreign exchange dealers, and the world's largest asset managers... They can be said to be synonymous with Swiss banking and a symbol of wealth.

Also know that everyone knows that these two have been rivals for many years and it is extremely difficult to appear on the same occasion.

He felt that even if it was a banquet between Bill Gates and Buffett, those two were not the case.

Although he is not sure how Feng's current total net worth will be compared with those two, he and many people can be sure that Feng personally holds more cash than those two, or simply Just more than everyone in the world.

Will the new Forbes World Rich List be announced next month. Will Bill Gates regain his position as the richest man, or will he simply make an amazing change?

When Bill Gates first ascended to the position of the world's richest man, he was less than 40 years old. Is it possible that this record will be updated this year and be rewritten as less than 30 years old?

The possibility is very big!

He looked at the noble and quiet mansions on the roadside, and said that in this way, Luo's catching up today would become more ridiculous.

Once again, I saw the strength of the new boss from the side. At this time, I looked at the mansions outside the window that would have put pressure on him. I couldn't help thinking, will I be able to buy a home here soon?

It seems that last year, the owner’s net worth has increased more than most people think, but the background is the rich old men like Gates and Buffett, or in other words, in the big environment like last year, except Own bosses, those on the Forbes Rich List in 2008, have their net worth shrinking substantially.

Perhaps the boss’s vision shouldn’t be called vision, it should be...like God’s perspective!

Relying on such a big tree, he believes that his net worth will greatly increase.

And this big tree, that is, the more you look at it, the better.

Glancing at the driver, he took out a pocket square to cover it, and burped lightly.

Today’s dinner was a very high-end social event in which he participated in both the people and the food.

In the past, when such social activities ended, there was always a sense of relief and a sense of loss, but today it is completely different.

The feeling of relief is naturally derived from the pressure of those social activities, and there are many reasons for the feeling of loss, but if it is a banquet, the feeling of loss after it is over, a large part of it should be attributed to not having enough food!

Today’s dinner is totally different. It is the first time that he ate well on such an occasion.

Because those dishes are so delicious, I actually ate a lot without knowing it.

And the main reason why I am doing this is because the master leads by example.

Warren East originally thought that Feng Yiping was mainly to take care of his American subordinates—oh, now he should be called his new colleague, and he set the clause in the invitation that he does not wear formal clothes, but now he Understand that this new boss is really not as considerate of his subordinates as he imagined. He made that one mainly for himself.

The main reason is to make myself feel at ease and eat comfortably. Tonight's dinner, saying that it was their New Year's Eve dinner, he really came to eat that year's Eve dinner.

The topics discussed during the banquet were all focused on food and beauty. As for those who wanted to talk about the international and economic situation, because the owner was obviously not interested, they eventually disappeared.

Of course, only with the strength of the boss can you have such a casual self.

He is envious!

…………

Not everyone had already left, and the two who came the latest were still there.

During the dinner, they didn't talk a word about the topics they cared about. Of course they didn't want to go just like that.

Speaking of it, their days are really hard now.

Last year, both UBS and Credit Suisse incurred huge losses due to subprime mortgages. For example, UBS’s losses in 2007 were close to 20 billion U.S. dollars, and in 2008, it was even closer to 40 billion U.S. dollars. As for the rich and powerful, they had to accept government assistance last year.

After learning from the pain, they have simply cut off the main department that caused losses, the investment banking department, and returned to their best business, which is their core business, wealth management.

But to make matters worse, it should also be because the life is not easy. Since last year, the US government has been attacking them to help US customers conceal assets from the US government to avoid offshore taxes.

It should be because of the great losses in the subprime mortgage crisis. The US government is putting more and more pressure on them. They have reached a consensus internally. In the end, they can only choose to reconcile with the US government.

No way, it seems that because of the subprime mortgage, the somewhat crazy US government really can't afford it.

The truth is unreasonable. They know that it is a government whose eyes only look at others.

And this settlement will mean that they will pay a fine of at least $500 million for this first, and secondly, they will have to provide a list of some American customers.

The main reason why many people with high assets in the world choose Swiss banks is the Swiss Bank Secrecy Act, which is that Swiss financial institutions can refuse government investigation and monitoring of customer accounts unless there is conclusive evidence that depositors exist. Criminal behavior, otherwise the account information will be permanently protected, and no government agency, even the court, has the right to investigate and interfere.

Without the legal documents signed by the account holder, the account information will never be known by a third party.

And their compromise will greatly affect the creed of confidentiality that they have pursued for more than three centuries.

In fact, they have calculated that in the past few months of disputes with the US government, nearly 165 billion Swiss francs, or approximately US$190 billion in assets under management, may have been lost.

If the dispute ends, obviously, the negative impact will only be greater.

They don’t know the scale of Feng Yiping’s deposits in the other’s bank, but from their own point of view, Feng Yiping’s cash in their home is as high as tens of billions of dollars, and there is a huge room for future growth. It is worth their greatest effort to curry favor.

"Mr. Feng, thank you very much for your trust in us all the time. UBS will certainly follow our tradition and become the best manager of your wealth."

"I have always trusted the bank represented by the two people very much." Their catching up was not in vain. Feng Yiping's response was also very enthusiastic.

"I really appreciate the professionalism and ethics of the Swiss banking industry represented by the two banks. I can make a clear promise to them that from now to the future, the two banks will always be my most important partners."

For him ~www.wuxiaspot.com~ because there is no need for banks to help with financial management, security and privacy are his first choice.

And these two points, in the world, it is difficult for financial institutions to do better than Swiss banks.

Compared with large financial institutions in other countries in the world, UBS and Credit Suisse, in addition to the golden sign: confidentiality, also lie in that they are private banks that are not listed, and that they are private banks that adopt a partnership system.

The so-called partnership system means that the operator must bear unlimited personal responsibility for the bank's operations and the interests of customers. This point is very important to Feng Yiping.

With his promise, the two felt that it was enough, and this trip was not in vain.

"Feng, thank you, thank you for your trust," the two middle-aged white men warmly held Feng Yiping's hands and thanked them.

At this moment, President Luo has arrived at Munich Airport, eagerly looking forward to the arrival of the new Samsung team.

I just don't know whether his catch-up will finally have the same effect as the CEOs of two Swiss banks.