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Pictet says confident of solution with US in tax dispute -paper
June 3, 2014 / 8:18 AM / 4 years ago

Pictet says confident of solution with US in tax dispute -paper

ZURICH, June 3 (Reuters) - Swiss private bank Pictet is confident it will be able to find a solution with U.S. authorities in a long running dispute over tax evasion, a senior partner told a Swiss newspaper on Tuesday.

Pictet, the third-largest asset manager in Switzerland after UBS and Credit Suisse, is one of roughly a dozen Swiss banks under criminal investigation in the United States for helping wealthy Americans evade taxes.

“We take the matter very seriously, but we think we’ll cope with the problem well,” Jacques de Saussure said in an interview with the Neue Zuercher Zeitung. “We are cooperating fully and within the legal framework and hope that the U.S. authorities will recognise this.”

Last month Credit Suisse became the largest bank in decades to plead guilty to a U.S. criminal charge and will pay more than $2.5 billion in penalties for helping Americans hide their assets from the taxman.

De Saussure said it was hard to say when the dispute between Swiss banks and U.S. authorities would reach its conclusion but was “pleased to see negotiations making progress”. (Reporting by Alice Baghdjian; editing by Jane Baird)

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