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Swiss banks seeing benefits from US election results, says Julius Bär CEO

Julius Bär Gruppe AG CEO Boris Collardi said client interest in Swiss financial markets has increased as a result of the U.S. presidential election results in November 2016, Reuters reported Jan. 26.

Collardi told the newswire that assets and transaction volumes have also increased alongside stock prices, driving revenue growth for Swiss banks. He added that local lenders will also benefit from deregulation in the medium to long term.

Collardi noted that Switzerland does not stand to gain significantly from the weakening of London's financial status as the U.K. prepares to leave the EU, but he warned that Switzerland should not cut off any negotiating possibilities, amid an uncertain future for the bloc.

Collardi also said that despite overcapacity in the European banking sector, some Swiss banks "may continue to take advantage of international M&A opportunities."