Bloomberg reports that Switzerland’s third-largest wealth manager is currently in negotiations with authorities, Collardi, 39, said in a Bloomberg Television interview with Haslinda Amin in Singapore. “We’ve already been out there for four years.”
The bank is one of at least 14 Swiss financial firms under investigation by the Justice Department since 2009. Larger rival Credit Suisse helped American customers hide as much as $10bn in assets from the Internal Revenue Service, more than double the amount previously known, according to a U.S. Senate committee report this week.
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