Credit Suisse Group AG, which runs Asia’s third-largest private bank, will step up lending to first-generation business owners as it seeks to build relationships with potential wealth-management clients.
Julius Baer Group Ltd. Chief Executive Officer Boris Collardi said he aims to reach a settlement this year with the U.S. Department of Justice amid a probe into Swiss banks helping Americans evade taxes.
Credit Suisse Group AG’s Chief Executive Officer Brady Dougan, under fire from U.S. lawmakers, apologized and deflected blame onto a small group of employees for helping clients hide billions of dollars from the Internal Revenue Service.
U.S. regulators are investigating whether Credit Suisse Group AG improperly shifted money in its private banking unit to obscure a drop in asset growth amid a U.S. probe of tax evasion at Swiss banks, a person familiar with the matter said.
Credit Suisse Group AG helped American customers hide as much as $10 billion in assets from the Internal Revenue Service, more than double the amount previously known, according to a U.S. Senate committee.
A U.S. Senate committee report will reprimand Credit Suisse Group AG for helping American clients dodge taxes and will criticize the Justice Department for not pursuing offshore banks aggressively enough, according to two people with knowledge of the findings.