2 Swiss banks to end 200-yr secrecy and publish financials
2 Swiss banks to end 200-yr secrecy and publish financials
Published time: August 22, 2014 19:41
Two Geneva-based banks that have kept their finance sheets shrouded in secrecy since 1796 will publish their earnings amid pressure from abroad.
Lomard Odier and Pictet, two of Switzerland’s largest independent private banks, will report financials in August, Bloomberg News reports, citing a source from Odier.
Lombard Odier, Geneva’s oldest wealth management firm, will report August 28, with Pictet also due to report by the end of the month.
Together the banks oversee about $630 billion in asset management, both private and institutional, according to Bloomberg.
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