Managers of Wealth

How ‘The Black Tax’ Affects Intergenerational Wealth Transfer

The Black Tax refers to a practice where a successful Black individual supports members of their immediate and extended family financially.

BNP Paribas announces the final signing of the agreements

For BNP Paribas Personal Finance, this partnership is a major milestone on its strategic objective to have 50% of its outstanding loans related to mobility by 2025.

Credit Suisse crisis warrants careful review by Swiss, IMF says

The Swiss economy will grow 1.8% in 2024 and 0.8% this year, the IMF said

Swiss regulators defend rescue of Credit Suisse via UBS deal

Insolvency would have left the functional parts of Credit Suisse in operation as a Swiss-only bank, but one with a “damaged reputation” through bankruptcy, he told reporters in the Swiss capital of Bern.

Vontobel cuts lines to customers in Russia

The implementation of the medium-term strategy 2022 to 2024 will be pursued consistently.

Privatbank IHAG holding company executive to be sentenced over $60 million fraud

Known as the “Singapore Solution,” members of the conspiracy sent over $60 million on “round trips” across the globe.

Swiss remain calm as Europe rages over retrocessions

Citywire has drawn views from its editorial teams in Switzerland, France, Spain, Italy, and Germany to understand how this subject is perceived within the EU.

Swiss prosecutor probes UBS takeover of Credit Suisse

Brokered by regulators

Sallie Krawcheck: Regulators Moved Quickly to Stem Banking Panic. But Is ‘Our Lehman’ Still Ahead?

The coming weeks and months will tell us more about how far regulatory practices have come since that period.

Swiss private banking exec pleads guilty to tax fraud conspiracy

Daniel Wälchli pleads guilty in the USA to tax evasion scheme using undeclared bank accounts at Privatbank IHAG.

Credit Suisse still helping wealthy dodge U.S. taxes, U.S. Senate Committee finds

In an emailed statement, Credit Suisse said it did not tolerate tax evasion and that it had been cooperating with U.S. authorities.

French prosecutors raid five banks in massive tax fraud case

Authorities said banks, including Societe Generale, BNP Paribas and HSBC, faced a compensation request of more than $1bn.

FINMA publishes 2022 Annual Report

FINMA’s 2022 Annual Report published today also includes the annual financial statements. In addition, FINMA is providing data on enforcement cases in a database as well as statistics in an Excel document on its website.

HMRC opens 25 new tax fraud investigations into wealthy individuals

The unit only reserves criminal processes only for serious investigations.

UBS offers retention packages to Credit Suisse Asia wealth bankers, say sources

In his address, Khan said the top performers at the Credit Suisse wealth business will get retention packages, the second source said. The details of the retention package were not immediately known.

FINMA provides information about the basis for writing down AT1 capital instruments

Due to numerous enquiries about Credit Suisse’s capital instruments, so-called AT1 bonds, FINMA is providing information about the basis for writing down these instruments.

Swiss National Bank raises rates, says Credit Suisse takeover prevented larger crisis

Swiss National Bank raises interest rate by 50 basis points

Regime shift: central banks will prioritise inflation over growth

Inflationary pressures mean monetary policy must be tighter and more restrictive than it has been in the recent past.

Three ways Jeremy Hunt has increased the tax burden on higher earners

The kind of budget on the cards usually depends on where we are in an election cycle, with governments keen to save up their giveaways for when the public is starting to think about polling day, and to get unpopular policies out of the way early on in an

EY is expanding its offering in the area of compensation and performance management in Switzerland

The acquisition by EY Switzerland is an important step in strengthening EY's position in the compensation advisory market.

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