Company Overview of HSBC Private Bank (Suisse) SA
HSBC Private Bank (Suisse) SA provides banking, investments, and wealth management services to high net worth individuals and their families. It offers advisory and investment services; various investment vehicles, including sovereign and corporate bonds, equities, derivatives, structured products, cash and foreign exchange products, and hedge funds; various trust and fiduciary, wealth advisory, insurance, and family office services; and specialist advisory services in the areas of philanthropy and foundations, global media and entertainment, art and design, diamonds and jewelry, and residential investments. The company also provides various finance and banking services comprising deposit pr...
Quai du Général Guisan 2
PO Box 3580
Founded in 2001
Key Executives for HSBC Private Bank (Suisse) SA
Chief Executive Officer, Regional Head of Europe & Global Market, Head of Western Europe, Global Private Banking and Member of Executive Committee
Member of General Management and Chief Executive Officer of Dubai Office
Chief Executive Officer of Guernsey Branch
Compensation as of Fiscal Year 2015.
HSBC Private Bank (Suisse) SA Key Developments
AFIP Orders HSBC Private Bank (Suisse) SA to Return $3 Billion Stashed in Secret Accounts
Feb 17 15
AFIP has ordered HSBC Private Bank (Suisse) SA to send back the $3 billion that Argentine citizens and companies deposited in thousands of secret accounts. In November 2014, the authority blamed the bank of assisting more than 4,000 account holders in evading taxes. The account holders reportedly created an illegal scheme with the help of three HSBC units to stash away their money in secret accounts. AFIP's allegations are based on a CD that the French government sent containing data about 4,040 undeclared Argentine bank accounts. HSBC issued an apology for past practices at its Swiss unit.
SEC Charges HSBC Private Bank (Suisse) SA with Providing Unregistered Services to U.S. Clients
Nov 25 14
The Securities and Exchange Commission charged HSBCs Swiss-based private banking arm with violating federal securities laws by failing to register with the SEC before providing cross-border brokerage an investment advisory services to U.S. clients. HSBC Private Bank (Suisse) agreed to admit wrongdoing and pay $12.5 million to settle the SECs charges. The SECs order finds that HSBC Private Bank willfully violated Section 15(a) of the Securities Exchange Act of 1934 and Section 203(a) of the Investment Advisers Act of 1940. HSBC Private Bank agreed to admit the facts in the SECs order, acknowledge that its conduct violated the federal securities laws, and accept a censure and a cease-and-desist order. The firm agreed to pay $5,723,193 in disgorgement, $4,215,543 in prejudgment interest, and a $2.6 million penalty.
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