Geneva Sees Opportunity in Bern’s Concessions on Bank Secrecy

July 2nd, 2009


On a hot Saturday morning in May at the Rolle yacht club on Lake Geneva, Guy de Picciotto, chief executive officer of Switzerland’s Union Bancaire Privee, smears on sunblock as he rallies a professional, lycra-clad crew of six to race his 35-foot, $600,000 catamaran.

“It wouldn’t do to look too tanned on Monday morning,” de Picciotto, 49, says with a grin, before jumping on a high- powered launch that takes him out to his sailboat, Zen Too, one of 12 identical carbon-fiber yachts moored offshore.

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