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UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
UBS Group AG came into existence in June 1998, when Union Bank of Switzerland, founded in 1862, and Swiss Bank Corporation, founded in 1872, merged. [89] Headquartered in Zürich and Basel , it is Switzerland's largest bank. [ 89 ]
Barclays Bank (Suisse) SA, Geneva; Barclays Capital, Zurich Branch of Barclays Bank PLC, London; HSBC Private Bank (Suisse) SA, Geneva; IG Bank S.A., Geneva; Lloyds Bank plc, Londres, succursale de Genève, Geneva *Standard Chartered Bank (Switzerland) SA (No offices anymore in Switzerland)
UBS expects to shed around 3,000 jobs in Switzerland to help it cut $10 billion in costs as it undertakes a sweeping overhaul following its emergency rescue of Credit Suisse earlier this year.
UBS—the final bank prosecuted for its role in the 2008 global financial crisis—is paying $1.4 billion to stop the case going to trial ... Swiss bank UBS is set to shell out more than $1.4 ...
A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses. Now, the giant Swiss lender is hitting back, saying its ...
The recent sharing of confidential UBS bank details about 285 clients suspected of willful tax evasion by the United States Internal Revenue Service was ruled a violation of both Swiss law and the country's constitution by a Swiss federal administrative court. Nevertheless, OECD has removed 18 countries, including Switzerland, Liechtenstein and ...
One of Shulman's signature initiatives was the cracking down of offshore tax evasion. He is largely credited with being the key leader in shifting the paradigm of tax evasion and bank secrecy. In August 2009, he persuaded Switzerland to turn over the identities of 4,450 Americans with secret UBS bank accounts. UBS paid a $780 million fine.