Brady Dougan leaves Credit Suisse

Tidjane Thiam, Credit Suisse CEO as of July 2015

British Prudential financial services boss to head bank ZURICH, SWITZERLAND – Brady Dougan, the American head of Credit Suisse, will be leaving the bank in June after eight years at the helm. His replacement has been named: Tidjane Thiam, currently head of financial services at British firm Prudential, continuing the shift to international financial management […]

El Gizouli named Acting IPCC Chair

RK Pachauri, photo by Marshall Niles

Pachauri resigns as climate head amid sexual harassment charges GENEVA, SWITZERLAND – Rajendra Pachauri has denied any wrongdoing and says his email and mobile phone were hacked, in response to an investigation in India into sexual harassment charges, the BBC reports. The head of the Geneva-based IPCC nevertheless handed in his resignation, effective today, to […]

Switzerland, Italy sign tax deal

Financial advisers not responsible for clients’ crimes BERN, SWITZERLAND – Switzerland and Italy will have a new tax deal protocol that implements OECD standards and states that financial advisers who have not committed crimes themselves are not responsible for the tax crimes of their clients. It also addresses numerous tax issues for cross-border workers. The […]

Dipping chocolate: 2015 profits likely to fall

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Swiss chocolate sales rose in 2014, but Swiss consumption down, imports up ZURICH, SWITZERLAND – This year will be a difficult one for Swiss chocolate-makers, with a high franc and rising prices for raw materials, notably cocoa. In addition, per capita consumption at home fell from 12 kg to 11.7 kg – and imported chocolate […]

Geneva airport computer breakdowns creating havoc

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GENEVA, SWITZERLAND – Two computer system breakdowns Saturday at Geneva Airport are causing havoc, particularly with baggage. The airport’s web site simply notes that the problems are continuing and are creating heavy delays: passengers are asked to check the arrivals/departures board for updates, or to check with their airlines. RTS reports that the system’s failure […]

Swisscom makes sharp cuts to European roaming fees

Top-end clients: virtually free BERN, SWITZERLAND – Swisscom, in a bid to be Switzerland’s market leader for roaming charges abroad, says it will cut customer’s costs significantly starting 13 April. At the top end, clients with Natel infinity plus accounts will have from 30 to 365 days a year free roaming in Europe, as part […]

Aebischer to step down from EPFL end-2016

Ernesto Bertarelli, Patrick Aebischer, Sylviane Borel, Daniel Borel, at the announcement of EPFL's Center for Neuroprostheses, 2008

University’s head nominated for NestlĂ© board BERN, SWITZERLAND – Patrick Aebischer, who has headed the federal polytechnic university EPFL for most of its aggressive period of growth, will step down at the end of 2016. The EPFL is today considered one of the top universities in the world by a number of ranking systems. Later […]

Geneva authorities on the hunt at HSBC Geneva

Cantonal attorney general opens investigation for aggravated money laundering Geneva bank raided Wednesday morning GENEVA, SWITZERLAND – HSBC is the target of an investigation by Geneva’s public prosecutor, Olivier Jornot, following public revelations about the bank in the past week, as part of the international “Swiss Leaks” story broken by a consortium of investigative reporters […]

French issue warrants for 3 ex-UBS bankers

ZURICH, SWITZERLAND – French justice authorities have issued arrest warrants for three former senior managers at bank UBS, all of whom are in Switzerland and cannot be extradited. The warrants were issued in January, reports news agency ats, which says the information has been confirmed by sources close to the case. The three were summoned […]

Lausanne Metro extension begins

Lausanne's transport system is feeling the impact of growing regional traffic

LAUSANNE, SWITZERLAND – The over-crowded Metro 2 run between the train station and Flon in Lausanne will get some relief, but not before 2017, when additional trains will be delivered. Phase 3 of the hugely popular underground Metro system in Lausanne is underway, with faster links between the station and Flon as a top priority. […]