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Credit Suisse on Thursday said it would merge its five independent private banks to meet rising competition and to address the needs of rich foreign clients, particularly those in Asia.
"This behaviour is demonstrative of how our libel laws have become the plaything of rich foreign nationals who know full well that the inherent threat of financial ruin can be used to intimidate and stifle the rights of individuals to speak freely on matters of public interest".
London's reputation as a romantic destination for lovers of art and style will hang in the balance this Valentine's Day, as the deadline passes for public responses to a scheme to safeguard the look and traditions of Mayfair and St James's against the influx of rich foreign residents.
Armageddon theories have attracted an ever-growing mass of rich foreign mystics.
The incentives for doing so also grew with the entry of rich foreign corporations and strong World Bank support.
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There's also something discordant about the stress on the foreignness of those "rich foreign investors" whom 49% of Londoners deemed the biggest reason for the capital's soaring house prices when polled last April.
All these promises are being made against the backdrop of the popular belief that rich foreign investors are the biggest cause of London's escalating house prices and rents and that their influence is forcing Londoners out of town.
Their indignation about the power of City privilege, Mayfair billionaires and "rich foreign investors" buying "off plan" property from marketing suites in Hong Kong is dwarfed by their helplessness in the face of it.
These won't all be those "rich foreign investors" routinely targeted by rhetoricians of the left.
Agents said that for properties of more than €5 million, the sector is dominated by a rich foreign clientele.
Are those archetypal "rich foreign investors" now buying up the suburbs too at the expense of native Brits?
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