Banque Heritage to take on client assets from Bank Hottinger

November 18, 2015 10:09 AM

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ZURICH Nov 18 Switzerland's Banque Heritage said on Wednesday it would take on client assets from wealth manager Bank Hottinger, which regulators put into bankruptcy last month.

The agreement is expected to be among a host of deals and closures in the Swiss banking industry, as an international crackdown on tax avoidance and costly regulation put pressure on banks, many of whom had relied on Switzerland's bank secrecy rules.

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