The last time I looked into it, all SilentCircle had was a small sales office in the French part. No engineering, marketing, etc... just a secretary and a sales guy.

I'd be surprised if they move anything substantial besides their servers to Switzerland. It's increasingly difficult for non-europeans to get residence permits here. I doubt Phil, Jon Callas, etc are anywhere near Switzerland, but I'd be happy to be proven wrong.

As for Switzerland being a 'privacy snakeoil', that's wrong. Privacy rules (especially financial) are strict and followed by the government, unlike in the u.s. There are definitely surveillance operations, for example, the satellite communication program that uncovered the CIA rendition programs, but these are mostly directly outward.