Swiss Banks Face Slow Death as Taxman Chases Undeclared Assets
AUG 6, 2012 1:09pm ET
Western Europeans may pull as much as 135 billion francs ($139 billion), or 15 percent of their holdings, from Swiss banks, said Herbert Hensle of Cap Gemini SA. Bank Sarasin & Cie. AG reported last week that private clients withdrew 3 billion francs from Swiss locations in the year through June.
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