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Swiss Banks Face Slow Death As Taxman Chases Assets

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Mon, 06 Aug 12 4:23 PM | 42 view(s)
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Swiss Banks Face Slow Death As Taxman Chases Assets

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“It will not be a big bang, but an erosion as amnesty programs are put together and as clients declare themselves and come clean,” said Francois Reyl, chief executive officer of Geneva-based Reyl Group, which manages 5.5 billion francs of assets. “Those banks which don’t adapt will die a slow death.”

http://www.bloomberg.com/news/2012-08-05/swiss-banks-face-slow-death-as-taxman-chases-undeclared-assets.html




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