Wegelin Clients Pulled $4 bln, Prompting Sale-paper

Catherine, News & Commentary on January 31, 2012 at 10:01 am · No Comments


 
By Reuters
 

  • Clients pulled some 4 bln Sfr of wealth in short time

    •  

  • Ex-UBS CEO Gruebel: More US attacks on Swiss banks likely

    •  

  • Gruebel: Solution to US tax row will likely be pricey

    •  
    ZURICH, Jan 29 (Reuters) – The break-up of Switzerland’s oldest bank Wegelin, involved in a row with U.S. authorities over tax cheats, became necessary when clients pulled 4 billion Swiss francs ($4.35 billion) of wealth, Der Sonntag newspaper reported on Sunday, citing unspecified sources.

    Continue reading the article . . .

    Related reading:

    Credit Suisse Hands US Millions of Emails: Report
    The Local (31 Jan 12)