Zeno Staub remains relaxed about the tax dispute with Germany. The CEO of Bank Vontobel says that not a single customer of his bank had featured on one of the tax CDs in Germany.
Bank Vontobel is one of about two dozen Swiss banks negotiating with Germany in connection with the tax dispute, Zeno Staub told «Tages-Anzeiger» in an interview (not available online).
Vontobel long ago had started assisting its customers registering their assets with the tax authorities. «Not one of our customers has ever featured on one of the tax CDs, they all have registered with the authorities themselves,» the CEO of the Zurich-based bank said.
Hoeness: No Comment
Germany is now approaching the clients and is applying a claim on past profits. Staub refused to be drawn on commenting about the case of FC Bayern President Uli Hoeness: «We don't comment on real or reported suspected client relations.»
Staub also refrained from commenting about possible acquisitions. «We want to grow as strongly ourselves as to render acquisitions an opportunity and not a must.» Vontobel has managed to do so in the past five year period.
Vescore Fit
Vescore, the asset management unit of Raiffeisen which Vontobel acquired in the summer, was a good fit, Staub said. Vescore was strong in computer-assisted quantitative investments and a specialist in sustainable investments.
The business with professional investors was taking time though, Staub said. «Vescore should be profitable by 2018.»
