Singapore tipped to become largest offshore wealth center in terms of assets by 2020 . `` The European crisis undoubtedly has had a big impact on Switzerland because all the European nations now are looking to get back as much as tax as they possibly can from anywhere , and anyone , '' said Wheeler . Market leader Switzerland is losing its gloss due to tighter banking regulations . Growing numbers of wealthy Asians are looking for banking hubs closer to home . Comment:
Singapore tipped to become largest offshore wealth center in terms of assets by 2020 . Market leader Switzerland is losing its gloss due to tighter banking regulations . Growing numbers of wealthy Asians are looking for banking hubs closer to home . Comment: