{UAH} Corbyn ‘Dangerous to Big Fortunes,’ Says Swiss Bank’s U.K. Chief

Labour Heartlands

11 hrs · 

Jeremy Corbyn's left-wing Labour Party gaining political power in the U.K. is a serious threat to the country's super-rich, according to a senior executive at one of Switzerland's oldest private banks.

"Corbyn is very dangerous for big fortunes," said Heinrich Adami, who oversees Banque Pictet & Cie's U.K. operations. Some of Pictet's clients in the country already have a "Plan B" in place for moving to jurisdictions including Monaco and Portugal, he said Tuesday at a London event held by the 213-year-old firm.

Contingency planning among the U.K.'s wealthiest individuals and families has stepped up since Corbyn's party won its biggest share of votes since 2001 in last year's general election. Labour's manifesto has turned its anti-wealth rhetoric into prospective policies that include possible wealth taxes. The next election is scheduled for 2022, though Prime Minister Theresa May could call for an earlier vote

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Corbyn 'Dangerous to Big Fortunes,' Says Swiss Bank's U.K. Chief

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