SWITZERLAND
A view of trams during rush hour in Paradeplatz, the...
© Mark Henley
00144878
Zurich
A view of trams during rush hour in Paradeplatz, the symbolic centre of the Swiss banking industry, showing the headquarters of Switzerland's two largest banks, UBS (top, background) and Credit Suisse (right). Between them they hold assets several times larger than the Swiss economy. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, including CHF 880 billion in undeclared European assets alone, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A reflection, in the window of a private bank, of the...
© Mark Henley
00144929
Zurich
A reflection, in the window of a private bank, of the people crossing a snowy Paradeplatz, the symbolic centre of the Swiss banking industry. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A businessman caught in a sudden downpour runs past...
© Mark Henley
00144895
Zurich
A businessman caught in a sudden downpour runs past the headquarters of UBS, Switzerland's largest bank. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws. The late British politician Harold Wilson once referred to Swiss bankers and their secrets as the 'gnomes of Zurich' and they are now increasingly in the spotlight of European finance ministers chasing unpaid taxes on an estimated USD 1,000 billion in undeclared European assets.
SWITZERLAND
A banker makes a mobile phone call.
© Mark Henley
00144933
Zurich
A banker makes a mobile phone call.
SWITZERLAND
Employees in the Credit Suisse cafeteria building,...
© Mark Henley
00144910
Zurich
Employees in the Credit Suisse cafeteria building, with trees reflected in the windows. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
Oswald Grubel, Group Group Chief Executive Officer of...
© Mark Henley
00144936
Basel
Oswald Grubel, Group Group Chief Executive Officer of UBS, responding to disgruntled shareholders at the annual general meeting, is shown on a video screen inside the entrance to the concert hall used as a venue for the AGM. Grubel, previously head of Credit Suisse, was brought in following catastrophic losses by the bank that necessitated a government bailout, as well as a major investigation into organised tax evasion in the United States which has called into question the future existence of Switzerland's banking secrecy laws. In September 2011 UBS was hit by a new scandal as a rogue trader lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned in September 2011.
SWITZERLAND
John Cryan, Chief Financial officer of UBS, announces...
© Mark Henley
00144949
Zurich
John Cryan, Chief Financial officer of UBS, announces diappointing annual results during a press conference in April 2011. After being bailed out by the Swiss government, in 2008, following record losses, for a Swiss company, caused by excessive exposure to the U.S. sub-prime market, UBS was hit by a new scandal in September 2011 as a rogue trader based in London was discovered to have lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned.
SWITZERLAND
A man holds his head in his hand while attending the...
© Mark Henley
00144954
Basel
A man holds his head in his hand while attending the annual general meeting of UBS, Switzerland's biggest bank, in a concert hall in Basel. There was a shareholder's revolt over the conduct of the bank's previous administration, which attendees regarded as responsible for record losses for a Swiss company, following exposure to the US sub-prime market and also a major investigation in the US into organised tax evasion that has called into question the whole concept of Switzerland's hallowed banking secrecy. Furthermore, a new scandal emerged in September 2011 when a rogue trader based in London was discovered to have lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned.
SWITZERLAND
A man carries a pair of metal suitcases on...
© Mark Henley
00144881
Zurich
A man carries a pair of metal suitcases on Paradeplatz, the symbolic centre of the Swiss banking industry in the centre of Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, including CHF 880 billion in undeclared European assets alone, benefiting from the country's famous banking secrecy laws. The late British politician Harold Wilson once referred to Swiss bankers and their secrets as the 'gnomes of Zurich' and they are now increasingly in the spotlight of European finance ministers chasing unpaid taxes on an estimated USD 1,000 billion in undeclared European assets.
SWITZERLAND
A shareholder at the Credit Suisse AGM walks up a...
© Mark Henley
00144982
Zurich
A shareholder at the Credit Suisse AGM walks up a flight of stairs holding a glass of wine. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A meeting on an upper floor of the Zurich offices of...
© Mark Henley
00144908
Zurich
A meeting on an upper floor of the Zurich offices of the Liechtensteinische Landesbank which specialises in private banking and asset manegement. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A man holds a cigarette as he approaches the...
© Mark Henley
00144884
Zurich
A man holds a cigarette as he approaches the Paradeplatz, the symbolic centre of the Swiss banking industry in the centre of Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, including CHF 880 billion in undeclared European assets alone, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A photograph of a model displayed in the window of a...
© Mark Henley
00144912
Zurich
A photograph of a model displayed in the window of a luxury jewellery shop on Bahnhofstrasse. Reflected in the same window are the offices of the Clariden Leu, a private bank owned by Credit Suisse. This section of Switzerland's most expensive street, leading to Paradeplatz, is awash with expensive boutiques seeking to catch the eye of wealthy bankers who work in the area.
SWITZERLAND
Two bankers walk past the headquarters of Credit...
© Mark Henley
00144920
Zurich
Two bankers walk past the headquarters of Credit Suisse on Paradeplatz, the symbolic centre of the Swiss banking industry in central Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws. The late British politician Harold Wilson once referred to Swiss bankers and their secrets as the 'gnomes of Zurich' and they are now increasingly in the spotlight of European finance ministers chasing unpaid taxes on an estimated USD 1,000 billion in undeclared European assets.
SWITZERLAND
People walk past the headquarters of Credit Suisse on...
© Mark Henley
00144921
Zurich
People walk past the headquarters of Credit Suisse on Paradeplatz, the symbolic centre of the Swiss banking industry in central Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws. The late British politician Harold Wilson once referred to Swiss bankers and their secrets as the 'gnomes of Zurich' and they are now increasingly in the spotlight of European finance ministers chasing unpaid taxes on an estimated USD 1,000 billion in undeclared European assets.
SWITZERLAND
Shareholders in the lobby of the building where the...
© Mark Henley
00144983
Zurich
Shareholders in the lobby of the building where the Credit Suisse AGM is taking place. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
Shareholders eat and drink while attending the annual...
© Mark Henley
00144957
Basel
Shareholders eat and drink while attending the annual general meeting of UBS, Switzerland's biggest bank, in a concert hall in Basel. There was a shareholder's revolt over the conduct of the bank's previous administration, which attendees regarded as responsible for record losses for a Swiss company, following exposure to the US sub-prime market and also a major investigation in the US into organised tax evasion that has called into question the whole concept of Switzerland's hallowed banking secrecy. Furthermore, a new scandal emerged in September 2011 when a rogue trader based in London was discovered to have lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned.
SWITZERLAND
People walk past the headquarters of UBS,...
© Mark Henley
00144894
Zurich
People walk past the headquarters of UBS, Switzerland's largest bank, in Paradeplatz, the symbolic centre of the Swiss banking industry in central Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws. The late British politician Harold Wilson once referred to Swiss bankers and their secrets as the 'gnomes of Zurich' and they are now increasingly in the spotlight of European finance ministers chasing unpaid taxes on an estimated USD 1,000 billion in undeclared European assets.
SWITZERLAND
A reflection, in the window of a private bank, of the...
© Mark Henley
00144927
Zurich
A reflection, in the window of a private bank, of the headquarters of Credit Suisse one of Switzerland's largest banks in Paradeplatz, the symbolic centre of the Swiss banking industry. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
Chairman Han-Ulrich Doerig dominates the annual...
© Mark Henley
00144972
Zurich
Chairman Han-Ulrich Doerig dominates the annual general meeting for shareholders of Credit Suisse. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
Shareholders eat and drink while attending the annual...
© Mark Henley
00144956
Basel
Shareholders eat and drink while attending the annual general meeting of UBS, Switzerland's biggest bank, in a concert hall in Basel. There was a shareholder's revolt over the conduct of the bank's previous administration, which attendees regarded as responsible for record losses for a Swiss company, following exposure to the US sub-prime market and also a major investigation in the US into organised tax evasion that has called into question the whole concept of Switzerland's hallowed banking secrecy. Furthermore, a new scandal emerged in September 2011 when a rogue trader based in London was discovered to have lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned.
SWITZERLAND
Board Members of Credit Suisse, chatting at start of...
© Mark Henley
00144981
Zurich
Board Members of Credit Suisse, chatting at start of the bank's AGM. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
Chairman of UBS, Kaspar Villiger, shown on a monitor...
© Mark Henley
00144937
Basel
Chairman of UBS, Kaspar Villiger, shown on a monitor in the media room during the company's AGM. After being bailed out by the Swiss government following record losses, for a Swiss company, UBS was hit by a new scandal as a rogue trader based in London lost in the region of USD 2.3 billion in unauthorised trading.
SWITZERLAND
A man smokes a cigarette during a break outside the...
© Mark Henley
00144935
Basel
A man smokes a cigarette during a break outside the annual general meeting of UBS, Switzerland's largest bank, during which there was a shareholder revolt over the bank's catastrophic losses. These were due to over-exposure to the US sub-prime market. Furthermore an investigation into tax avoidance schemes in the US has threatened the very concept of banking secrecy. After being bailed out by the Swiss government following record losses, for a Swiss company, UBS was hit by a new scandal as a rogue trader based in London lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned in September 2011.
SWITZERLAND
Shareholders attending the annual general meeting of...
© Mark Henley
00144951
Basel
Shareholders attending the annual general meeting of UBS, Switzerland's biggest bank, in a concert hall in Basel. There was a shareholder's revolt over the conduct of the bank's previous administration, which attendees regarded as responsible for record losses for a Swiss company, following exposure to the US sub-prime market and also a major investigation in the US into organised tax evasion that has called into question the whole concept of Switzerland's hallowed banking secrecy. Furthermore, a new scandal emerged in September 2011 when a rogue trader based in London was discovered to have lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned.
SWITZERLAND
A panel from the Swiss National Bank, chaired by...
© Mark Henley
00144900
Zurich
A panel from the Swiss National Bank, chaired by Thomas Wiedmer, the Chief Financial Officer, and member of the bank's governing board, discuss its annual financial stability report with the press in a small luxury hotel in central Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A man attending the annual general meeting of UBS,...
© Mark Henley
00144959
Basel
A man attending the annual general meeting of UBS, Switzerland's biggest bank, talks on a mobile phone. There was a shareholder's revolt over the conduct of the bank's previous administration, which attendees regarded as responsible for record losses for a Swiss company, following exposure to the US sub-prime market and also a major investigation in the US into organised tax evasion that has called into question the whole concept of Switzerland's hallowed banking secrecy. Furthermore, a new scandal emerged in September 2011 when a rogue trader based in London was discovered to have lost in the region of USD 2.3 billion in unauthorised trading. In response Oswald Grubel, Group Chief Executive Officer at UBS, resigned.
SWITZERLAND
Bankers drink coffee at Cafe Leo, a cafe favoured by...
© Mark Henley
00144896
Zurich
Bankers drink coffee at Cafe Leo, a cafe favoured by businessmen, located within the building of Clariden Leu, a private bank, and owned by a banker's wife.
SWITZERLAND
A banker caught in a sudden downpour runs across...
© Mark Henley
00144890
Zurich
A banker caught in a sudden downpour runs across Paradeplatz, the symbolic centre of the Swiss banking industry in central Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws. The late British politician Harold Wilson once referred to Swiss bankers and their secrets as the 'gnomes of Zurich' and they are now increasingly in the spotlight of European finance ministers chasing unpaid taxes on an estimated USD 1,000 billion in undeclared European assets.
SWITZERLAND
Bank staff at the end of Credit Suisse AGM. The Swiss...
© Mark Henley
00144976
Zurich
Bank staff at the end of Credit Suisse AGM. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
CEO of Credit Suisse, Brady Dougan, speaks during a...
© Mark Henley
00144963
Zurich
CEO of Credit Suisse, Brady Dougan, speaks during a press conference at the bank's offices in Zurich to anounce their annual results. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A senior risk manager at Credit Suisse attends a...
© Mark Henley
00144969
Zurich
A senior risk manager at Credit Suisse attends a press conference to announce their annual results, which were disappointing, causing a drop in shareprices. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
A view from a tunnel towards one of many Credit...
© Mark Henley
00144985
Zurich
A view from a tunnel towards one of many Credit Suisse buildings in Zurich. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, benefiting from the country's famous banking secrecy laws.
SWITZERLAND
The Swiss flag flies on the roof of luxury hotel...
© Mark Henley
00144876
Zurich
The Swiss flag flies on the roof of luxury hotel Savoy Baur en Ville, overlooking Paradeplatz, the symbolic centre of the Swiss banking industry, showing the headquarters of Switzerland's two largest banks, UBS and Credit Suisse. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, including CHF 880 billion in undeclared European assets alone, benefiting from the country's famous banking secrecy laws.
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