American clients who each hid more than 1 million Swiss francs in undeclared bank accounts with UBS AG between 2001 and 2008 could have their details turned over to the US government, Swiss officials said Tuesday.
UBS boss Oswald Gruebel is targeting an annual pretax profit of 15 billion Swiss francs (USD 14.9 billion) as he aims to put the subprime crisis and a US tax row behind the loss-making bank and win back clients.
Swiss bank UBS has been fined eight million pounds in the UK after four of its senior employees
were found misusing funds of customers, including two
companies of Indian industrialist Anil Ambani-led group.