Swiss Not Aware of U.S. Accusation Details, Pictet Tells AZ
Swiss banks need to know what the U.S. is accusing them of to be able to negotiate a solution, Nicolas Pictet, president of the Swiss private banking association and a managing partner at Pictet & Cie. told Aargauer Zeitung in an interview.
“Unfortunately we have no clue,” Pictet told the newspaper. He also said that UBS AG (UBSN) and Credit Suisse Group AG (CSGN) should split off their investment banking units from wealth management business, the newspaper reported.
To contact the reporter on this story: Elena Logutenkova in Zurich at firstname.lastname@example.org
To contact the editor responsible for this story: Frank Connelly at email@example.com;
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.