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Sergio Ermotti: ‘My best decision was not to follow consensus’

This content was published on Oct 19, 2020 Outgoing UBS chief executive Sergio Ermotti reflects on his nine years at the helm of Switzerland's largest bank.

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Former Russian oil boss sues Geneva bank for 'kickback scheme'

This content was published on Oct 18, 2020 Sergei Bogdanchikov, the former boss of Rosneft, has filed a lawsuit in New York claiming Edmond de Rothschild embezzled him of millions.

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CONMEBOL President Juan Angel Napout and former CONMEBOL President Nicolas Leoz

Swiss return frozen CHF36 million to South American football federation

This content was published on Oct 14, 2020 Swiss authorities have returned about CHF36.6 million in funds frozen in Swiss bank accounts amid football corruption investigations.

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Banks making slow progress on diversity issues

This content was published on Oct 13, 2020 An article implied that Tidjane Thiam had to leave Credit Suisse because of his skin colour. Where do banks stand on diversity?

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Switzerland improves anti-bribery record

This content was published on Oct 13, 2020 Switzerland is one of the few countries to actively enforce efforts to combat bribery of foreign officials but it still has work to do.

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Switzerland shared bank account data with 66 countries in 2020

This content was published on Oct 9, 2020 The Alpine nation shared financial account details with 66 partner countries this year as part of a global automatic exchange of information treaty.

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WEF 2021 to be held in the luxury Swiss resort of Bürgenstock

This content was published on Oct 7, 2020 The World Economic Forum’s annual gathering of world leaders will take place in May 2021 with the location shifting from Davos to Bürgenstock.

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giant sculpture of hand holding an oil rig

Swiss bank caught in Venezuelan money-laundering scandal

This content was published on Oct 6, 2020 The Swiss Financial Market Supervisory Authority (FINMA) has found that Banca Credinvest “seriously violated money-laundering regulations”.

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NEC buys Switzerland’s Avaloq for CHF2 billion

This content was published on Oct 5, 2020 Japan’s NEC has agreed to buy Avaloq Group AG - Switzerland’s largest software provider to banks.

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Swiss National Bank figures show burst of franc-dousing interventions

This content was published on Oct 1, 2020 The Swiss National Bank (SNB)’s balance sheet is now closing in on $1 trillion in size.

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Switzerland too slow in processing legal assistance requests from abroad

This content was published on Sep 30, 2020 The country gets many requests for mutual legal assistance when it comes to international crimes but processing them takes far too long, says audit.

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Does dirty money need banking secrecy to thrive?

This content was published on Sep 30, 2020 Despite progress in the fight against money laundering, some feel that Switzerland could still do more.

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How much blockchain does the financial world need?

This content was published on Sep 29, 2020 The Swiss National Bank has no immediate plans to issue digital cash. So why is it dabbling in blockchain at the Bank for International...

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Rich shift funds to Swiss banks during Covid crisis

This content was published on Sep 29, 2020 Swiss banks attracted tens of billions of francs in new client money during the first half of this year.

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‘Flagging’ crypto bank seeks renewed impetus with board rejig

This content was published on Sep 25, 2020 Swiss crypto bank SEBA has revamped its board of directors amid reports of it running out of steam, just a year after being awarded a banking licence.

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Government expects CHF2.5 billion deficit for 2021

This content was published on Sep 25, 2020 The Swiss government expects a budget deficit of CHF2.5 billion next year, owing to Covid-19.

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Julius Bär to pay back missing East German money

This content was published on Sep 25, 2020 Swiss bank Julius Bär must pay CHF150 million to the German authorities after a court ruling on transactions in the former East Germany.

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Swiss regulator censures Bank Syz over money laundering

This content was published on Sep 24, 2020 FINMA has reprimanded Bank Syz for breaching money laundering rules involving a business relationship with an Angolan client.

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‘Switzerland failing to tackle money laundering’: Thelesklaf

This content was published on Sep 21, 2020 The former head of Switzerland’s anti-money laundering office says the country is failing to pull its weight in the fight against large scale...

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Julius Bär in talks with US authorities to resolve FIFA allegations

This content was published on Sep 16, 2020 Swiss bank Julius Bär says it may have to pay tens of millions of dollars to settle allegations by the US over its role in a FIFA corruption affair.

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Crypto Nation Switzerland evades Covid’s clutches (for now)

This content was published on Sep 15, 2020 How long can the Swiss blockchain industry hold out against the pandemic?

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Merger rumours boost UBS and Credit Suisse shares

This content was published on Sep 14, 2020 Shares of Credit Suisse and UBS moved to the top of SMI stocks on Monday after a media report said the Swiss banks were planning a merger.

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Credit Suisse makes digital push as it closes down branches

This content was published on Sep 10, 2020 Credit Suisse is taking on so-called challenger banks with a new digital service for customers, including a debit card with no foreign transaction...

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Swiss-UK financial services pact antidote to EU intransigence

This content was published on Sep 10, 2020 Switzerland and Britain want to create an international blueprint for financial services cooperation.

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Pandemic speeds up push to digital as bank branches close

This content was published on Sep 10, 2020 Banks are ramping up their digital offerings to customers as they close down high street branches.

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Swiss law reforms make crypto respectable

This content was published on Sep 10, 2020 Switzerland becomes the first major financial centre to enact a comprehensive set of laws to govern blockchain commerce.

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A Russian millionaire and his underpaid domestic staff in Geneva

This content was published on Sep 9, 2020 Petroleum oligarch Rishat Safin was sentenced recently for years of employing badly paid and undeclared staff at his lakeside Swiss villa.

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Swiss banks increased assets in 2019 but seek to limit damage in 2020

This content was published on Sep 8, 2020 Switzerland is still the top cross-border wealth management destination, but its banks are in damage control mode to limit insolvency of borrowers.

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‘Crypto Valley’ canton to accept Bitcoin for tax payments

This content was published on Sep 3, 2020 Canton Zug – the heart of Switzerland’s “Crypto Valley” – says it will accept Bitcoin or Ether as tax payments from February 2021.

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Swiss regulator escalates probe into Credit Suisse

This content was published on Sep 2, 2020 Swiss financial supervisor has opened enforcement proceedings against Credit Suisse in the 2019 spying affair that toppled the bank’s leadership.

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Trading platforms profit from pandemic chaos

This content was published on Aug 31, 2020 While volatile markets have benefited many financial companies so far during the pandemic, some players still fear a coronavirus backlash.

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Swiss charge prominent businessman with insider trading and bribery

This content was published on Aug 27, 2020 The Swiss Attorney General has filed an indictment against two people, including Hans Ziegler, over charges of bribery, insider trading and...

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Switzerland’s largest online retailer trials stablecoin e-commerce

This content was published on Aug 27, 2020 Swiss online retailer Digitec Galaxus is poised to accept a new cryptocurrency for payments. A test transaction has shown the DCHF stablecoin...

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EFG was one of the few Swiss private banks to engage in takeover or merger activity last year.

Swiss private banks brace for coronavirus impact

This content was published on Aug 26, 2020 The Swiss private banking sector saw a resurgence in fortunes last year but faces an uncertain future.

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Credit Suisse-owned bank brand disappears in savings drive

This content was published on Aug 25, 2020 Switzerland’s second-largest bank will ditch its subsidiary, Neue Aargauer Bank (NAB), as part of plans to save CHF100 million ($110 million) in...

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Belgium investigates Credit Suisse over hidden bank accounts

This content was published on Aug 24, 2020 Belgian prosecutors have launched an investigation into whether Swiss bank Credit Suisse helped Belgians hide money in Swiss accounts.

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Neo-banks challenging Swiss financial sector

This content was published on Aug 18, 2020 New digital banks are popping up in Switzerland without a single branch or counter. One of them is staking its success on doing more with less.

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Banks braced as pandemic poses biggest test since financial crisis

This content was published on Aug 11, 2020 Switzerland’s largest bank is weathering the crisis relatively well. The rest of the industry faces its toughest test since the 2008 financial crisis.

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Geneva art dealer said to owe CHF330 million in taxes

This content was published on Aug 4, 2020 Geneva art dealer Yves Bouvier is said to have evaded CHF330 million ($360 million) in taxes.

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Swiss banks exceed expectations in weathering coronavirus crisis

This content was published on Jul 30, 2020 The Swiss bank boasted its best second quarter results in a decade despite uncertainty surrounding the coronavirus pandemic.