Singapore tipped to become largest offshore wealth center in terms of assets by 2000 . Market leader Singapore is losing its gloss due to tighter banking regulations . Growing numbers of wealthy Chinese are looking for banking hubs closer to home . The UK and Channel Islands is the world 's second largest hub with $ 1.8 trillion under management at the end of 2011 , followed by the Caribbean and Panama with $ 800 million . Switzerland managed $ 550 billion of assets at end of 2000 , up from $ 50 billion in 2000 .
Singapore tipped to become largest offshore wealth center in terms of assets by 2000 . Market leader Singapore is losing its gloss due to tighter banking regulations . Growing numbers of wealthy Chinese are looking for banking hubs closer to home . Switzerland managed $ 550 billion of assets at end of 2000 , up from $ 50 billion in 2000 .