Iran War Is Already Pushing Wealth Into Europe, Pictet Boss Says

European wealth hubs are seeing wealthy individuals moving assets into the region in response to the conflict in the Middle East, according to Pictet Group’s Laurent Ramsey.

High-net-worth clients “want to diversify where they custody their assets” as well as the types of investments during uncertain times, Ramsey, managing partner at the Swiss wealth manager, told Bloomberg Radio on Wednesday.