Swiss banks investigations News

Switzerland’s financial center is in the midst of a power shift. The Alpine country’s less fashionable insurers, long overshadowed by glamorous private banks around Zurich’s posh Paradeplatz and Lake Geneva, are on course to surpass banks as a bigger contributor …

Assicurazioni Generali SpA agreed to sell its Swiss private-banking unit BSI Group to Grupo BTG Pactual for CHF1.5 billion ($1.7 billion) as Italy’s biggest insurer seeks to boost capital. Generali will receive CHF1.2 billion [$1.3466 billion] in cash and CHF300 …