Bank Profile
- AAM
- Arner
- Arvest
- Aston
- Baumann
- BBH
- BBSA
- BCL
- BCP
- Bellevue
- BGG
- Bonhôte
- Bordier
- BPER
- BZ
- Clariden Leu
- Cornèr
- Cramer
- Dominick
- EFG
- Frey
- Gonet
- Gutzwiller
- Habib
- Heritage
- Hottinger
- Hugo Kahn
- IHAG
- JB
- La Roche
- Landolt
- Lombard Odier
- MBC
- Mirabaud
- Morval
- Mourgue
- NPB
- NZB
- Pictet
- Piguet
- R&B
- Reichmuth
- Safdie
- Sarasin
- SCS
- Swissquote
- SYZ
- UBP
- Valartis
- Valiant
- Von Graffenried
- Vontobel
- VZ
- Wegelin
Financial regulation: The EU’s agenda. In response to the worst crisis in decades, European Union leaders have agreed a common agenda to regulate and supervise global financial markets. Archival Overview of the state of play
Switzerland says stolen bank data should be part of taxation talks: The Swiss Federal Council will insist that any discussion about bank data stolen from Swiss banks and offered to Germany must take place during negotiations for a double taxation agreement
Global Macro Advances, Long/Short Declines In January: Global macro hedge funds rose in January, while long/short funds tumbled with the stock market, according to Credit Suisse Asset Management
SEC, FSA To Boost Cooperation On Hedge Funds: U.S. and British regulators agreed to expand their cooperation on hedge fund oversight. The two sides agreed to increase their cooperative efforts on hedge fund adviser surveillance
MPs fly out to meet American financial leaders: Members of the Commons Treasury Select Committee, which is in the middle of an inquiry into whether big banks should be forced to carve themselves up, flew to America to meet Wall Str financiers, central bankers and the US Treasury
LSE gives private investors chance to trade in bonds: The London Stock Exchange’s new bonds trading service goes live, offering private investors the chance to buy corporate bonds and gilts in manageable quantities for the first time
Germany willing to pay for secret Swiss bank data: The German government say it’s likely to buy data on possible tax-evaders that media say an informant has offered to sell authorities. The case could spark a fresh tax row between Germany and Switzerland
Germany opposes bank rescue fund at close of Davos summit: At the conclusion of the World Economic Forum, which was clouded by divisions over fiscal reforms, Germany’s economic minister rejected the idea of a rescue fund for risk-taking financial institutions
Departing WEF delegates face the challenge of breathing new life into the economy after discussing many options and potential pitfalls in Davos. But the overriding impression of the week was of a growing conflict between bankers, regulators and politicians
Harsh rules “could drive bankers underground”. Heavy-handed financial rules could create a shadow banking system beyond the control of regulators, the head of the Swiss Bankers Association warns
Honest broker trying to melt the ice in Davos: the Standard Chartered chief executive Peter Sands and his wife emerged into the Alpine snow of Davos after a convivial night with Mr Sands’s former employer, McKinsey
Davos: Top bankers to hold secret talks with Darling in bid to avert tough sanctions. Darling is to meet the chiefs of top British and American banks at a secret meeting in Davos to hear their concerns about the introduction of tough new sanctions against the banking sector
Six “Deal of the Year” awards for BayernLB. The magazine “Project Finance International” has once again conferred multiple Deal of the Year awards to BayernLB, honouring six project finance transactions which the Bank concluded in 2009 as mandated
French President Nicolas Sarkozy has offered a broad riposte to unrestrained free-market capitalism at the World Economic Forum (WEF) meeting in Davos. Sarkozy, giving the keynote address, told the business and political movers and shakers gathered in the Swiss resort to prepare for tighter regulations including new accounting rules
Tax disputes are finished: Switzerland and France settled a row over stolen bank records, which blocked the treaty, aimed at helping Paris to catch tax fraud
France backs fashion bank for crisis-hit designers: France said it would help struggling designers and artisans by creating a fashion bank and handing out state guarantees for loans, Industry Minister Christian Estrosi said. The fashion industry, which the government sees as part of France’s cultural heritage, has been hit hard by the global spending slump with high-profile victims including Christian Lacroix and Cacharel
Why expats choose Luxembourg to manage their investments. Why this small country ranks as one of the top financial centres worldwide for investment funds and what advantages it offers international clients in terms of wealth management. Luxembourg has long been popular with the European banking community with its history of multilingual banking and cultural knowledge of their banking clients’ home countries
Swiss Fund Cleantech Invest Expects First Exits in 2010. This will be “the year of the first exits” for Cleantech Invest AG, says Juergen Habichler, founder and managing partner of the Swiss venture capital fund that focuses on cleantech investments in the German-speaking world
Bank whistleblowers and thieves grab: Call them whistleblowers if you believe their consciences have overcome them, or thieves if you think they’ve broken the law. Whatever the label, people who take client data from Swiss banks that employ them, then offer the information to another government, are suddenly back in the headlines
Little Backing For Obama Plan In Europe: The Europeans are saying all the right things about President Barack Obama’s plan to keep banks out of the alternative investments industry. But they aren’t saying they’ll follow suit. Some officials in France, Britain and Germany have offered cautious support for Obama’s proposals. Others have said thanks, but…
Switzerland weathers the global crisis. Euros in wallet The OECD Economic Survey of Switzerland reports that Switzerland has coped with the global crisis better than others, though it will have a lasting effect on the Swiss economy. The latest survey for Switzerland reports on the country’s management of the global financial crisis, and recommends how best to continue recovery
Swiss-born stock markets guru Marc Faber believes the global economy is standing on the verge of rampant inflation, national debt default and renewed volatility. Faber criticised central banks for exacerbating the current problems with the same low interest rate policies that he blamed for causing the financial crisis
Obama Calls for Limiting Size, Risk-Taking of Financial Firms: President tapping into voter anger over bank bailouts, called for limits on the size and trading activities of financial institutions in order to reduce risk-taking and prevent another financial crisis
JB launches over-the-counter funds trading: JB announced that it is now offering over the-counter trading in unlisted investment funds and, with an initial universe of 300 products, will immediately become the Swiss market leader in this field
Swiss Firm Preps Agricultural Hedge Fund: Lumix Capital AG is gearing up to launch an agricultural hedge fund later this quarter. The Lumix AgroDirect Fund, which has been incubated since June 2008, invests in the production of soft commodities and in commodity trade finance in Uruguay, Argentina, Brazil and Paraguay
Investing: Analysts at Bank Wegelin - Swatch leaves financial crisis in fine shape. The Swatch Group has recorded the third-best year in its history with sales of SFr5.4 billion ($5.2 billion) in 2009 and it sees “solid growth” for 2010. The world’s largest watchmaking concern said that 2009 sales had fallen…
Swiss steer clear of proposed US bank levy: Switzerland’s refusal to introduce a United States-style bank tax has drawn speculation about possible competitive advantages for the Swiss financial sector
Switzerland coped with the financial crisis better than most countries, according to a recent report from the Organisation for Economic Co-operation and Development (OECD)
First German Muslim bank prepares to open: Germany’s first Muslim bank is opening in Mannheim, with plans to set up ten branches across the country offering banking services according to the ethical rules of the Koran
10 stocks that can keep running. Pat Dorsey, director of equity research for Morningstar: There are plenty of reasons you might think that the rally that began in early March 2009 will slow down this year? After going through the following analyses, I’ve come up with what I think will be the big themes of 2010…
NGO calls on Barnier to reform EU financial expert groups: “The European Commission should reform the way it takes advice on financial matters and it cannot do that without bringing about a deep change in its financial expert groups,” - Yiorgos Vassalos, a researcher at the Corporate Europe Observatory
Migros Bank adds assets, customers: The banking arm of Switzerland’s Migros retail group has reported SFr1.5 billion ($1.47 billion) of inflows of client money in 2009
Hedge Fund Investors Take Their Revenge: Big returns are back, but that’s not enough to keep angry clients from pulling billions out of hedge funds that blocked withdrawals during dark times. Since their record losses in 2008, hedge funds have staged a comeback, posting a 20% gain last year. So why are many investors still wary?
Switzerland not likely to impose special tax on banks: The Swiss government is not likely to introduce a special tax on Swiss banks, the Swiss Federal Department of Finance says
Swiss Reinsurance Co. sold part of its U.S. life-reinsurance business for 1.3 billion Swiss francs ($1.33 billion) to a unit of Warren Buffett’s Berkshire Hathaway Inc. to free up capital and deploy it more profitably. The transaction is known as a “retrocession” deal, in which a reinsurer transfers a pool of risks to another reinsurer It will allow Swiss Re to free up about 300 million francs in capital, which the company said it will use to underwrite other reinsurance business
Eastern European, Long-Only Funds Tops In 2009. Hedge funds posted their best year in six in 2009, rising more than 19%, according to Eurekahedge
OECD gives mostly good marks for Swiss economy: Switzerland has suffered less from the economic crisis than the majority of industrialised countries, according to a study published by the Paris-based OECD. But the Organisation for Economic Co-operation and Development recommends the Swiss authorities pursue reforms on surveillance of the financial markets, and on economic and monetary policy
…rides the global financial storm: The world’s largest inspection group, SGS of Geneva, has reported that net profit last year fell by 18 per cent but said it expected higher profit and sales in 2010. SGS said that net profit came in at SFr566 million ($553 million) and explained that the result was down because of a one-off gain made the previous year
“World’s worst banker” Sir Fred Goodwin quietly returns to business - Sir Fred Goodwin: from architect of the RBS collapse to one of the world’s big architecture firms. He became the public face of the biggest banking crisis in a century: unashamed, unloved and, ultimately, unemployable
Pimco’s assets under management exceed $1 trillion: Pacific Investment Management Co, the world’s biggest bond fund, has seen assets under management exceed $1 trillion for the first time, underscoring investors’ appetite for yield and portfolio diversification
Peter Maurer, who is currently Switzerland’s ambassador to the United Nations in New York, has been named the country’s new secretary of state, in the Foreign Affairs Office. He will service under Federal Councilor Micheline Calmy-Rey, minister for foreign affairs.
Tax headache: Switzerland has been under continuous attack since the start of last year for helping foreign tax evaders hide their assets. The global crusade coincided with the devastation of the financial crisis leaving large holes in the budgets of many countries. In 2009, Finma ordered UBS to hand over the details of 285 clients to the US authorities after the bank was fined $780 million for helping US citizens to dodge taxes
Private bankers urge Swiss to shape up on tax: Some of Switzerland’s most influential bankers have called for a more coherent response to the recent crescendo of global criticism concerning tax evasion. Switzerland backpedalled fast last year to get itself removed from a “grey list” of uncooperative tax havens
Soros Fund Management LLC, the $25 billion hedge-fund firm founded by billionaire George Soros, plans to open an office in Hong Kong, according to a person with knowledge of the matter
The new European commissioner in charge of financial services, Michel Barnier, pushed a regulatory reform agenda at the EU, while attempting to calms fears in London, promising “intelligent regulation”. Michel Barnier, nominated as Europe’s new financial services overlord, pushed a new regulatory reform agenda all the while seeking to reassure London financial circles
Michael Ambühl has been named Switzerland’s State Secretary for International Financial and Tax Matters, head of a new secretariat within the Federal Finance Department. Michael Ambühl is probably best known as the man who negotiated the UBS arrangement with the United States Justice Department in early 2009
The Federal Reserve made record profits in 2009, as its unconventional efforts to prop up the economy created a windfall for the government. The Fed will return about $45 billion to the U.S. Treasury for 2009, according to calculations based on public documents. That reflects the highest earnings in the 96-year history of the central bank. The Fed, unlike most government agencies, funds itself from its own operations and returns its profits to the Treasury
Experts Talk Dollar, Hedge Funds, Stocks’ 2010 Start. What Wall Street economists and strategists had to say about key developments on Jan. 2009
Europe catches up on clean tech venture investment. Venture capital investment in clean technologycontinued strongly in 2009 despite the financial crisis,with European investment decliningby just 12%as opposed to 42% in North America, according to market researchers Cleantech Group and Deloitte
Swiss cantons catch the tax “fever”: Switzerland has decided to follow France and Italy in pardoning tax cheats, with some cantons going further than the government in trying to recuperate money. While Swiss citizens prepare for the annual chore of filling out their tax declarations, they have the chance to make amends for any wrong-doing in past years
Billionaire Predictions 2010: The world’s wealthiest on the economy and where to invest in 2010 
The Zurich Fund Selectors Forum 2010 will be held for leading Swiss fund selectors on the 25th of February at the Park Hyatt Hotel. The event’s unique format includes workshop-based sessions with five leading fund managers. Raphael Kassin, renowned emerging market bond specialist, appearing as guest of the editor and Gerhard Niggli, one of Switzerland’s leading capital market lawyers, will key note speaker
Swiss asset management firm Pictet & Cie has awarded a mandate to manage a convertible bond fund to former GLG Partners’ hedge fund manager Philippe Jabre
Swiss private bank discloses new addition to exec board: Credit Suisse announced the appointment of Pamela Thomas-Graham in the new role of Chief Talent, Branding and Communications Officer. She will be a member of the Executive Boards of Credit Suisse Group and Credit Suisse, and will have global responsibility for Human Resources, Corporate Communications, Corporate Branding and Advertising
Top Hedge Fund Managers Enjoy Strong ‘09. Paulson & Co. posted another strong year as prominent hedge fund managers recovered from 2008’s disastrous losses. Paulson, of course, had no such losses to recover from. The firm’s flagship continued its winning way, adding 14% last year
U.S. regulators closed Horizon Bank (HRZB.O) of Bellingham, Washington, on Friday, kicking off what has been forecast as a peak year for small bank failures. The Federal Deposit Insurance Corp said Horizon Bank had approximately $1.3 billion in total assets and $1.1 billion in total deposits as Sept. 30
A Swiss court has ruled that the handing over of confidential UBS bank details to United States investigators by the Swiss authorities last year was illegal. The federal administrative court said the Swiss Financial and Market Supervisory Authority (Finma) abused its power when it ordered that details of 285 account holders suspected of tax evasion in the US be sent to Washington
Scott Rothstein has decided to plead guilty to charges he ran an investment scheme that bilked clients out of more than $1 billion, authorities said. Marc Nurik, an attorney for Rothstein, announced the jailed and disbarred lawyer intends to plead guilty during a brief morning appearance with his client in federal court in Fort Lauderdale, Florida
Thousands to declare hidden funds: Nearly 10,000 people have come forward to the tax authorities to declare they have money hidden in offshore bank accounts. UK taxpayers had until 1700 GMT on Monday to tell HM Revenue and Customs (HMRC) that they were planning to come forward and hand over unpaid tax
Central Bankers to Gather With Private Banks at BIS: Central bankers plan to hold a session with representatives of financial firms to discuss regulation at a Bank for International Settlements meeting this weekend, according to two Group of Seven central bank officials.The BIS meetings, held in Basel, Switzerland, occasionally feature sessions with private banks and this month’s gathering will be such an example, the officials said on condition of anonymity because the agenda isn’t public
BNP Paribas Joins Forex Prime Brokerage Platform. With its eyes on a bigger slice of the currencies-trading pie, BNP Paribas has joined a trading platform targeted at hedge funds. The French bank has become a prime bank on the EBS trading system, owned by brokerage ICAP
Dr. Daniel Fischer, senior partner of the Zurich law firm “Fischer & Partner” has played a central role in the aftermath of a number of the latest financial scandals. Dr. Fischer about the latest developments with regard to the UBS Global Property Fund: “It’s Not Possible at the Moment to Estimate the Damage”
First “International” Hedge Fund Debuts In Israel: In Tel Aviv is now home to its first global hedge fund, thanks to a pair of immigrants from the world’s great hedge fund centers. Ezra Gardner and Etan Silver founded Omnium Capital Management in Tel Aviv about three months ago. Currently boasts a staff of seven, including the founders. In addition, their office features two Israelis, a Swiss and an Italian
Iceland leader vetoes bank bill: Iceland’s president has refused to sign a controversial bill to repay $5bn (£3.1bn) to the UK and the Netherlands. President Olafur Ragnar Grimsson said he would instead hold a referendum on the bill, following public protests. The legislation was designed to compensate governments forced to bail out their savers with Icesave accounts following Iceland’s banking collapse
Emerging-market equity and bond funds closed 2009 with record annual inflows as a recovery from the global financial crisis boosted demand for riskier assets, EPFR Global said. Emerging-market equity funds received $64.5 billion while those investing in developing-nation bonds drew more than $8 billion, also an all-time high, EPFR said, citing initial figures from funds reporting daily and weekly
Tax threats: Switzerland has been under attack since the start of 2009 for helping foreign tax evaders hide their assets. The global crusade coincided with the devastation of the financial crisis leaving large holes in the budgets of many countries…
US judge won’t delay prison for UBS informant. A federal judge has refused to postpone prison or consider a lighter sentence for a former UBS banker-turned-whistleblower. Monday’s decision by US District Judge William Zloch means Bradley Birkenfeld must report to prison on Friday to begin a sentence of three years and four months, longer than what prosecutors had sought
News: Prospectuses and simplified prospectuses of Swiss funds, EU savings tax, Key data on the international fund business, Swiss financial accounts, Swiss fund market grows, Further rise in assets under management, Swiss limited partnership for collective investment, Domestic environment…
. Deal making: Get Ready for an Upswing in 2010. Companies looking to fix strategic flaws or simply to grow are turning again to M&A. Corporate dealmakers lived in “interesting times” in 2008 and 2009. In the wake of the financial crisis and the resulting Great Recession, financial institutions disappeared or changed form at an unprecedented rate, the capital markets struggled to remain functional, and central banks around the world pumped trillions of dollars into capital markets in an effort to limit the long-term damage
. 
. A milestone year ends for banking secrecy. Has banking secrecy been thrown wide open? Swiss banking secrecy has been enshrined in law for 75 years but 2009 marked a turning point in the practice as it came under massive international pressure. How it will evolve in 2010 will depend on the stance taken by the government and the Swiss voters, two experts told…
. Currencies to continue to fall against gold, dollar rally unsustainable, Fed audit a good move, credit crisis for America and England, small gains in some places, plunges elsewhere, The rally in the dollar and the problems for other currencies prove what we have been saying and that is all currencies will continue to fall vs. gold. The impetus for the dollar rally originates as usual with the government and is added to by the disarray in the economies worldwide, particularly in Europe. One of the things central banks have never learned is that financial engineering only works for a short duration, after that the problem worsens. Even the world’s strongest currencies, the Swiss, Canadian, Aussie and Norwegian, are only holding their own versus gold
. Cayman Islands to relax immigration laws to stop businessmen quitting country The government of the Cayman Islands is drafting legislation to relax its immigration laws in a bid to stem the flow of fund managers and businessmen quitting to go abroad
. The amount of corporate debt outstanding globally shrank for the first time in at least 15 years in the first half of 2009 as U.S. banks reduced the size of their balance sheets, according to Mizuho Securities Co. The volume of corporate bonds, commercial paper and asset- backed securities fell to $52.9 trillion at June 30 from $53.2 trillion on the same day in 2008, Tetsuo Ishihara, a senior credit analyst for Mizuho in Tokyo, said in a report yesterday that analyzed data from the Bank for International Settlements
. “Newcits” Hedge Funds Take Europe By Storm. Lawrie Chandler: More and more managers are using Europe’s UCITS III structure to create “new-CITS” hedge funds. Fund managers and promoters are attracted by UCITS III gold standard status and flexibility to accommodate the more liquid hedge fund strategies
Nathaniel Rothschild Said to Be Rusal IPO Investor: Rothschild’s private investment company may buy shares in United Co. Rusal’s $2 billion Hong Kong initial public offering, said three people familiar with the plan
European Central Bank says eurozone countries must slash deficits. European Central Bank President Jean-Claude Trichet has urged the 16 members of the eurozone to slash their deficits by 2011. He said budget deficits in countries using the euro “should be reduced in 2011 at the latest, in some countries already in 2010, to preserve faith in state finances.” Trichet also called on banks to ease a credit crunch by making loans readily available. “Banks must live up to their central role in providing credit to the economy,” he said
Ernst & Young: Switzerland Could Attract London Hedge Funds. Another day brings another report predicting a flood of hedge fund managers moving from London to Switzerland
Taxing times: Switzerland has been under continuous attack this year for helping foreign tax evaders hide their assets. The global crusade coincided with the devastation of the financial crisis leaving large holes in the budgets of many countries. The OECD placed Switzerland on a grey list of uncooperative tax havens…
French showdown looms over stolen bank data: Strange goings on at HSBC private bank. A dispute between Switzerland and France over stolen bank data and tax evasion is threatening to undermine diplomatic relations between the two countries. The Geneva-based HSBC private bank case has so many sub plots and has thrown up so much conflicting information that it could read as spy novel. Both sides accuse the other of encouraging criminal behaviour
Geneva Lacks Infrastructure For Hedge Fund, Banking Influxю Hedge funds thinking about relocating to Switzerland might want to think again
Swiss banks should step up Islamic wealth drive Islamic finance is on the rise. Switzerland faces a bigger threat from the developing private banking system in the Middle East than reaction to the minaret ban, according to one finance expert
2010 Investment Outlook: Advice for next year - Go global (+video)
Wealth Managers: A New Business Model for Private Bank Employees? It’s unknown how many client files “Hervé” and his mysterious female companion have stolen from their employer HSBC. The estimates range from “under 10” (HSBC statement) to 130,000 (statement of the French prosecutors). But fact is that sensitive data of a Private Bank have again been stolen by an employee of that bank
Swiss and French newspapers have mixed feelings following Finance Minister Hans-Rudolf Merz’s announcement that Switzerland would suspend a tax accord with France
Vontobel considers charges relating to PEH capital increase to be without foundation. In autumn 2008, following an investigation lasting several years, the Public Prosecutor’s Office III of the Canton of Zurich brought charges against Dr. Joerg Fischer and Hans-Peter Bachmann - both former managers of the Vontobel Group and former officers of Private Equity Holding AG (PEH) - in relation to their involvement in the capital increase of PEH carried out in March 2000. The court hearing starts at Zurich District Court
Diamonds As An Alternative Investment: Not Only A Girl’s Best Friend, But An Asset Class. Over the last decade the global diamond industry has been focused on reinforcing the message that diamonds are the leading emotional and aspirational gift item in the mind of consumers across the globe
The Swiss central bank held its key interest rate at a range of zero to 0.75 percent, and forecast that the economy would expand by up to 1.0 percent in 2010
A federal judge in Florida has declared a banker and lawyer from Switzerland who were indicted on fraud charges as fugitives from justice. United States District Judge Daniel Hurley signed the order against the banker and attorney in West Palm Beach
Swiss banks plan tax requirement for foreign clients. Switzerland’s secretive banks are considering landmark plans to require that their foreign clients conform to personal taxation requirements abroad according to leading banker Patrick Odier
Hedge funds value “culture” over tax breaks. Culture is more important than tax breaks in attracting hedge funds, says one expert. Switzerland’s hopes of luring hedge funds over from London depend more on creating the right business culture than tax incentives, according to an industry expert. Talk of fund managers running away from higher British taxes has not yet amounted to much so far. And proposed new European Union financial rules may yet disadvantage Swiss-based operations