200 years of silence are over. Swiss banks will no longer be kept secret.

Two
Switzerland's largest banks are ready to report, after two centuries of silence
his income.

Lombard
Odier SC, Geneva bank open
in 1796, is due to release its financial
Report August 28, according to data from
bank employee, who preferred
remain anonymous. Pictet Cie. Group
SCA, the third largest Swiss
the company that manages funds and
assets, also before the end of the month will present
its report.

Under
pressure regulators abroad, these
Two companies are forced to withdraw from the
their age-old traditions and publicly
report their income. private
Banking in Switzerland is famous
thanks to its traditional unbreakable
secret deposits, but now it dwells
under close supervision and unprecedented
the attention of the tax authorities and the US
Europe.

Tim
Dawson, an analyst at consulting Geneva
Company Helvea SA, commented
this information: "It will be something - we
We see the financial statements of Pictet
and Lombard Odier, after
how few centuries they kept
these data are secret! These guys have got
at the forefront of adapting Swiss
the banking industry to the changing
the conditions of reality. "

traditionally,
These two banks are used most
wealthy families in the world is stored here
and increase their status. By
preliminary estimates, these two
financial giant run around
630 billions of dollars belonging
private and institutional clients.

Now
they will have to adapt their business models
to a new era, to comply with financial rules
and subject to constant regulation:
the tax authorities of various governments
countries may require detailed
information on private clients. So,
Pictet interested
US fiscal services: in the United States
suspect that the Bank helps its
clients evade taxes.

Now before
both banks have a difficult task:
to come up with that position as its
advantage over many other
banks around the world in order to attract customers.
Secrecy and privacy for decades
were unique offer Swiss
financial and credit institutions. Now
You need to find the other key point of the work
with investors.