HSBC not the troublemaker made out to be, rival Swiss banker says



The comments are noteworthy because the unspoken rule among Swiss private bankers is to avoid directly commenting on rivals, a rare exception being three years ago when UBS (UBSG.VX) head Sergio Ermotti suggested Zurich's main banking thoroughfare, Bahnhofstrasse, was full of banks which took untaxed money, as did UBS.
Ermotti was criticized by other bankers at the time for speaking out.
Founded in 1986, Banque Heritage is part of a programme brokered by the Swiss government for Swiss banks to come clean on their untaxed American clients, paying fines and cooperating with authorities in... read more

 
1 March 2015 in Business, Views: 33
Source: Reuters
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