Chapter 2876 Unprecedented Importance

At 10:30 pm, cars drove quietly through this street full of famous wealthy people from all over the world.

Even in the car, even those who had drunk a few glasses at the dinner and were a little drunk, did not speak loudly. Keeping quiet when passing this usually quiet street was their respect for the wealthy people on the street.

Those who attended the dinner at Feng Yiping's house might despise the powerful, but they would definitely respect wealth.

But for ARM CEO Warren East, he knew that some things had changed completely. After today, other people on this street would not bring him too much pressure.

He also believed that there should be many people like him who would have enlightenment after tonight.

Peter Bauer was very clear at this time. He originally thought that some of Mr. Luo's actions and decisions today were already too bottom-line, but he did not expect that the CEOs of UBS and Credit Suisse would rush to curry favor with Feng Yiping like this.

You know, these two are the world's largest private banks, the world's largest foreign exchange dealers, the world's largest asset managers... They can be said to be synonymous with the Swiss banking industry and the symbol of wealth.

You also know that everyone knows that these two have been mortal enemies for many years and it is extremely difficult for them to appear in the same occasion.

He felt that even at the banquet of Bill Gates and Buffett, the two would not be like this.

Although it is not certain what the result of Feng's current total net worth will be compared with those two, he and many people can be sure that Feng's personal cash in hand will definitely be more than those two, or simply more than everyone in the world.

In the new Forbes World Rich List to be announced next month, will Bill Gates regain the position of the richest man, or will there be an amazing change?

When Bill Gates first ascended to the position of the world's richest man, he was less than 40 years old. Is it possible that this record will be updated this year and rewritten as less than 30 years old?

The possibility is very high!

He looked at the noble and quiet mansions on the side of the road, thinking that in this way, Luo's rush today would become even more ridiculous.

Once again, East saw the strength of his new boss. Looking at the mansions outside the window that used to bring him pressure, he couldn't help wondering, will I soon be able to afford to buy a house here?

It seems that the boss's wealth has increased more than most people imagine in the past year, but the big background is that the wealth of old-fashioned rich people such as Gates and Buffett, or in other words, in the big environment like last year, except for his boss, the wealth of those on the Forbes Rich List in 2008 has shrunk significantly.

The boss's vision, perhaps it shouldn't be called vision, it should be... close to God's perspective!

By relying on such a big tree, he believes that his wealth will most likely increase by leaps and bounds.

And this big tree, it really is, the more you look at it, the better it is.

Glancing at the driver, he took out his pocket handkerchief to cover it and burped lightly.

Today's dinner was a very high-end social event he attended, both in terms of the participants and the food.

In the past, when such social activities ended, there was always a sense of relief and loss, but today was completely different.

The feeling of relief naturally came from the pressure of those social activities, and there were many reasons for loss, but if it was a banquet, the loss after the end should be attributed to not eating enough!

Today's dinner was really different. It was the first time he had a good meal in such an occasion.

Because the dishes were so delicious, he ate a lot without realizing it.

And the reason why he was like this was mainly because the host set an example.

Warren East originally thought that Feng Yiping mainly wanted to take care of his American subordinates - oh, now he should be called his new colleagues, so he set the clause of not wearing formal clothes in the invitation, but now he understands that this new boss is not as considerate of his subordinates as he imagined. He set that clause mainly for himself.

The main purpose is to make himself feel relaxed and comfortable, eat comfortably and enjoyably. Tonight's dinner is said to be their New Year's Eve dinner, and he really came here to eat it as New Year's Eve dinner.

The topics discussed during the dinner were all focused on food and beautiful scenery. As for those who wanted to talk about the international and economic situation, because the host was obviously not interested, they completely disappeared in the end.

Of course, only the boss's strength can have the strength to be so casual and true to himself.

He was very envious!

…………

At this time, not everyone had said goodbye and left. The two who came the latest were still there.

During the dinner, they didn't talk about the topics they cared about. Of course, they couldn't just leave like that.

Speaking of which, their lives are really hard now.

Last year, both UBS and Credit Suisse suffered huge losses due to subprime mortgages. For example, UBS's losses in 2007 were close to 20 billion US dollars, and its losses in 2008 were close to 40 billion US dollars. As a result, they had to accept government aid last year.

After learning from their mistakes, they have simply cut off the main department that caused the losses, the investment banking department, and returned to the business they are best at, which is also their core business, the wealth management business.

But to make matters worse, probably because of difficult times, the U.S. government has been attacking them since last year for helping U.S. clients hide their assets from the U.S. government to avoid offshore taxes.

Probably because they suffered too much in the subprime mortgage crisis, the U.S. government put increasing pressure on them. They had reached an internal consensus, and in the end, they had no choice but to reconcile with the U.S. government.

There is no way, it seems that because of the subprime mortgage, the somewhat crazy US government cannot afford to offend.

It doesn't make sense. They know that it is a government that only looks at others.

This settlement will mean that they will first pay a fine of at least US$500 million, and secondly, they will have to provide a list of some US customers.

The main reason why many high-net-worth individuals in the world choose Swiss banks is Switzerland’s Bank Secrecy Act, which means that Swiss financial institutions can refuse government investigation and monitoring of customer accounts unless there is conclusive evidence to prove the existence of the depositor. Criminal behavior, otherwise the account information will be permanently protected, and no government agency, not even the court, has the right to investigate or interfere.

Without a legal document signed by the account holder, the account information will never be known to third parties.

Their compromise will greatly affect the confidentiality creed they have pursued for more than three centuries.

In fact, they have calculated that in the past few months during the dispute with the US government, nearly 165 billion Swiss francs, or approximately US$190 billion in managed assets, may have been lost.

If the dispute ends, obviously, the negative impact will only be greater.

They didn't know the scale of Feng Yiping's deposits in the other party's bank, but from their own perspective, the cash deposited by Feng Yiping in their home amounted to tens of billions of dollars, and they were scarce customers with huge room for future growth. Of course, It's worth their efforts to curry favor.

"Mr. Feng, thank you very much for your continued trust in us. UBS will definitely follow our long-standing tradition and become the best manager of your wealth,"

"I have always had great trust in the bank you two represent," their efforts paid off, and Feng Yiping's response was also very enthusiastic.

"I very much appreciate the professionalism and ethics of the Swiss banking industry represented by your two banks. I can clearly promise you that from now to the future, your banks will always be my most important partners,"

For him, since there is no need for banks to help with financial management, security and privacy are his first choices.

As for these two points, it is difficult for any financial institution in the world to do better than Swiss banks.

Compared with large financial institutions in other countries in the world, UBS and Credit Suisse, in addition to their golden slogan: confidentiality, are also private banks that are not listed on the market, and they are private banks that adopt a partnership system.

The so-called partnership system means that operators must bear unlimited personal responsibility for bank operations and customer interests. This is very important to Feng Yiping.

With his promise, the two felt that it was enough, and this trip was not in vain.

"Feng, thank you, thank you for your trust," two middle-aged white men enthusiastically held Feng Yiping's hand and thanked him.

At this moment, Mr. Luo had arrived at Munich Airport, eagerly looking forward to the arrival of the new Samsung team.

I just don’t know if his rush will have the same effect as the CEOs of two Swiss banks.

ps: Dear, it’s Monday, don’t forget to vote.