Missing paperwork behind closure of Ai Weiwei account: Credit Suisse
Documents seen by the German-language Tages-Anzeiger show Ai provided the bank with information it had requested, such as domicile, income and expenses, the newspaper reported on Saturday.
Keystone / Filip Singer
In response to claims by the Chinese artist that his foundation’s bank account had been shut because of his “criminal record” in China, the Swiss bank told the media on Saturday the decision had in fact been made on administrative grounds.
“The bank’s decision was made in Spring 2021 because Mr. Weiwei [sic] did not provide legally required information despite repeated requests from the bank,” Credit Suisse said in a statement to Reuters, confirming a reportExternal link in the German-language newspaper Tages-Anzeiger.
In a piece he wrote for the website Artnet last September, Ai described how the bank had informed him his foundation’s account would be closed because he had a criminal record. Ai, a high-profile artist and political activist now living in Portugal, spent several weeks in detention in China in 2011 but was never charged with a crime.
“Not long ago the institution announced that it was accelerating its recruitment of employees in China,” Ai wrote, suggesting that he was being shut out because Credit Suisse was trying to win business in China.
The statement by the bank on Saturday admitting that Ai had been a client seemed at odds with its previous response to Ai’s claims, the Tages-Anzeiger pointed out. Back in September, Credit Suisse said it did not comment on “possible or existing client relationships.”
The newspaper also revealed on Saturday that it had analysed documents, including emails and transcripts of conversations between Ai’s staff and Credit Suisse dating as far back as late 2020, that show Ai had provided the bank with information it had requested, such as domicile, income and expenses.
In one conversation, dated March 2021, a Credit Suisse advisor told Ai’s staff the foundation’s account would be closed due to a new regulation whereby the bank must separate from clients with a criminal record. Such a regulation does not exist, according to the Tages-Anzeiger.
Popular Stories
More
Aging society
No house generation: the impossibility of buying property in Switzerland
In Switzerland more people are being referred to electrical therapies or psychedelic-assisted psychotherapy. Are there similar approaches where you live?
This content was published on
The number of tourist coaches stopping at Schwanenplatz in the centre of Lucerne were down by two-thirds in April, compared to the same month last year.
Swiss-German border regions reaffirm stable Swiss-EU relations
This content was published on
Swiss and German officials have reaffirmed their commitment to stable and sustainable relations between Switzerland and the EU.
Pro-Palestinian protesters end University of Geneva demo
This content was published on
Pro-Palestinian protesters who camped out in front of the rector's office at the University of Geneva (UNIGE) left the premises on Thursday evening.
WEF courts Lagarde as next leader after founder’s abrupt exit
This content was published on
Klaus Schwab’s abrupt departure from the World Economic Forum has complicated carefully laid plans to persuade Christine Lagarde to assume the helm in a seamless transition.
Significantly more civil aviation incidents logged in Switzerland
This content was published on
Switzerland saw around 20% more commercial and recreational aviation safety incidents reported to the Federal Office of Civil Aviation.
St Moritz most expensive Swiss address for luxury homes
This content was published on
St Moritz is the most expensive Swiss municipality for luxury real estate, with square metre costs starting at around CHF43,000.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Ai Weiwei: Art is a way of questioning power
This content was published on
Art is innocent, but it is also a means of questioning the establishment, said contemporary artist Ai Weiwei at his new exhibition in Lausanne.
Credit Suisse ignored more than 100 red flags, says regulator
This content was published on
A report by the Swiss financial regulator FINMA claims that the bank had ignored over 100 warnings of potential breach of regulations.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.