Yes, but that AFAIK still covers a majority of the Swiss private banking business. I have mixed feelings about that being lost because I see privacy as a human

Yes, but that AFAIK still covers a majority of the Swiss private banking business. I have mixed feelings about that being lost because I see privacy as a human right, not just a right for Swiss citizens, on the other hand Switzerland isn't responsible to enforce our understanding of rights for non-residents. In any case, I think it's obviously necessary for our banking industry to reinvent itself, if they ever want to be as relevant and profitable as pre-2008. Just as one indicator, their earnings per share dabbles around one quarter to one sixth to what they had ever since. Revenues look very similarly, around one quarter of what they had (maybe more, I can only look back 10 years since I don't pay money for this kind of data). Point is, Swiss banking can either keep dabbling around in the less profitable and hardly growing woods, or they can charge into new territory, whatever that is.