Julius Baer aims to reach agreement over Justice Dept tax probe

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Julius Baer's CEO Boris Collardi said he aims to reach a settlement this year with the U.S. Department of Justice amid a probe into Swiss banks helping Americans evade taxes.

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.

To access the complete Bloomberg article hit the link below:

Collardi Says Julius Baer Seeking to Settle with U.S. This Year 

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image: © Tax Credits

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