GenevaLunch » private banking

Credit Suisse’s US offshore accounts to be moved onshore (update)

Ellen Wallace — Fri, 25 Nov 2011 13:00:19 +0000

GenevaLunch.com ZURICH, SWITZERLAND – US-based private clients of Swiss bank Credit Suisse will no longer be able to do offshore banking with the company, in a move that may signal one of the first steps by an international bank to deal with Fatca (Foreign Account Tax Compliance Act), new US financial regulations that are expected go [...]

Credit Suisse’s US offshore accounts to be moved onshore (update) © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Leverage ratio for banks the way forward: Hildebrand

Sean Ecker — Mon, 18 Jan 2010 14:25:36 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – Philipp Hildebrand has been the chairman of the Swiss National Bank’s three-man governing board since 1 January 2010. In an interview with Geneva’s Le Temps published 17 January, he expounds on several of the issues facing the central bank today. Relatively upbeat on Swiss economy Hildebrand is moderately optimistic about Switzerland’s [...]

Leverage ratio for banks the way forward: Hildebrand © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

HSBC data theft may involve more than 10 clients

Sean Ecker — Mon, 14 Dec 2009 13:58:25 +0000

GenevaLunch.com Geneva, Switzerland (GenevaLunch) – The French public prosecutor in Nice, southern France, Eric de Montgolfier, has revealed that his office is in possession of confidential details of up to 130,000 clients from HSBC’s private banking branch in Geneva. The data was acquired by the French state when Hervé Falciani, a former IT employee of the [...]

HSBC data theft may involve more than 10 clients © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Credit Suisse reports net income of CHF2.4 billion in third quarter

Sean Ecker — Thu, 22 Oct 2009 07:24:24 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – Credit Suisse group has released figures that show that it earned CHF2.35 billion in the third quarter of 2009, an increase of 61 percent over the second quarter. The bank says its “low-risk” business model is vindicated by the surprisingly strong numbers. This is reflected in part by the net inflows [...]

Credit Suisse reports net income of CHF2.4 billion in third quarter © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UBS closes US clients’ “hidden offshore accounts,” says NY Times

Laila Rodriguez — Fri, 09 Jan 2009 10:15:31 +0000

GenevaLunch.com Update 3 New York, USA (NYT) – According to the New York Times, Switzerland’s largest bank UBS, under pressure from the US tax authorities, has begun to close “hidden offshore accounts of its well-heeled American clients, potentially allowing their secrets to spill into the open.” Reuters, with a more complete report, has had the information [...]

UBS closes US clients’ “hidden offshore accounts,” says NY Times © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

CEO of Bank Julius Baer dies

Ellen Wallace — Fri, 05 Dec 2008 08:42:35 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – Alex W Widmer, age 52, chief executive officer at Bank Julius Baer, has died, the bank announced Friday morning. No details were provided except to say that he “died unexpectedly overnight Wednesday.” He is survived by three children. Chairman Raymond Baer said of Widmer that he had “opened new dimensions in [...]