A Credit Suisse Group AG banker who formerly worked at UBS AG was arrested in New York as part of a widening U.S. crackdown on offshore tax evasion.
Christos Bagios, 45, is being held on a charge of conspiracy to defraud the U.S., said Barry Golden, a spokesman for the U.S. Marshal’s Service in Miami. The charging document isn’t publicly available. Bagios is being transferred by the marshals to south Florida, where he will make a court appearance, Golden said.
WHAT TO WATCH: *ECB’s Axel Weber speaks in Zurich at 6:15 p.m. *The government holds a regular meeting *Producer and import prices are published at 9:15 a.m.
EQUITIES: *Vontobel full-year profit advances 6.4% to SF147.8 Million *Gategroup reports ‘isolated’ 22 million-franc fraud case *Roche’s Avastin gets final rejection by U.K. for breast cancer *Roche says Xeloda approved in Japan for additional use *Roche Ends Agreement to License Transgene Experimental Vaccine *Addex reduces second-half loss per share 33% to SF2.68 *Union Bancaire Privee names Repkow as Asia private banking head *Novartis Reaffirms Outlook; Shareholders Approve Resolutions *BKW FMB Energy Board to Propose Election of Ueli Dietiker
MARKETS: *The SMI fell 0.9 percent to close at 6,622.49 *The SPI retreated 0.9 percent to close at 5,938.76 *The Stoxx Europe 600 Index dropped 0.6 percent to 285.38 *Euro -- Franc at 1.2840 at 7:17 a.m. Zurich time