Pictet’s name added to US Justice inquiry

GENEVA, SWITZERLAND – Ivan Pictet, speaking at a press conference on the role of International Geneva Monday 26 confirmed to reporters that Pictet et Cie. has been added to a list under  investigation by the US Department of Justice. The bank issued a statement following an article in Der Sonntag that was published Sunday, saying […]

Two Brits among those investigated in Geneva for bribery, money laundering

GENEVA, SWITZERLAND – The Swiss public broadcaster Radio Suisse Romande (RSR) reports that three Al Rushaid Petroleum Investment Corp employees have been charged by the Geneva public prosecutor in a bribery and money-laundering case. Two British nationals and one Pakistani working for the drilling division of Al Rushaid may have accepted millions of dollars in […]

Swiss private banks weathering economic, secrecy storms

Geneva, Switzerland (GenevaLunch) – Geneva-based Pictet & Cie, one of Switzerland’s largest private banks, is the latest private bank to see its wealth management unit’s assets under management rise in recent months. Industry observers speculate this could be at least in part the result of some clients of UBS closing their accounts. A spokesperson at […]