In an interview with the NZZ, Jacques de Saussure, a senior parter at Pictet Group, discusses the situation of the Bank, which is registered under Category 1 in the US Program. Mr. de Saussure says that it is difficult to foresee when the disput will be settle, but believes they and making good progress.
The DoJ blamed Credit Suisse earlier this year for their lack of cooperation. Pictet tries to position itself differently and when refering to that matter Mr. de Saussure says ‘We are cooperating fully and within the legal framework and hope that the U.S. authorities will recognize this’.
The Senior Partner points out that Pictet founded a specific business entity named Pictet North America Advisers back in 2006/2007. The purpose of this unit was to serve compliant US clients.