Call for Swiss bankers to maintain ethics
June 23rd, 2009
Financial Times
The chairman designate of Switzerland’s powerful bankers’ association on Monday warned private bankers to maintain the highest ethical standards amid intensifying international pressure for tax transparency.
Patrick Odier, a senior partner at Lombard Odier, said Switzerland’s bankers had to rebuild confidence in their industry after the credit crisis and international attacks on bank secrecy. Mr Odier, who will take over in September, made no direct reference to UBS, the world’s leading wealth manager, which has been embroiled in a legal fight with the US authorities over alleged assistance in tax evasion.
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