Raoul Weil
Encyclopedia
Raoul Weil is a Swiss
businessman who became Chairman and CEO Global Wealth Management & Business Banking at UBS AG
on 6 July 2007.
He graduated with a degree in Economics from the University of Basel
and moved on to work with Swiss Bank Corporation
(SBC), in the Private Banking Division in Basel
, Zurich
, Monaco
, and New York City
from 1984 until 1998. He joined UBS as part of the Private Banking Division for Asia and Europe before becoming Head of Wealth Management International in 2002. He was appointed to the GEB in July 2005, and currently holds the Chairman post.
Raoul Weil relinquished his duties pending the resolution of the ongoing investigation of UBS's US cross-border business by the United States Department of Justice
which resulted in his indictment on 12 November 2008.
scandal, the Associated Press
reported "In an separate case also affecting wealthy investors, former UBS AG wealth management head Raoul Weil was formally declared a fugitive on Tuesday after failing to surrender to U.S. authorities on charges of conspiring to help wealthy Americans hide assets to avoid paying taxes." Weil's attorney Aaron Marcu says his client is not guilty of the charges. Another private banker for UBS, Brad Birkenfeld
, was indicted on similar charges in May 2008 and later pleaded guilty.
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
businessman who became Chairman and CEO Global Wealth Management & Business Banking at UBS AG
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
on 6 July 2007.
He graduated with a degree in Economics from the University of Basel
University of Basel
The University of Basel is located in Basel, Switzerland, and is considered to be one of leading universities in the country...
and moved on to work with Swiss Bank Corporation
Swiss Bank Corporation
Swiss Bank Corporation was a large integrated financial services company located in Switzerland...
(SBC), in the Private Banking Division in Basel
Basel
Basel or Basle In the national languages of Switzerland the city is also known as Bâle , Basilea and Basilea is Switzerland's third most populous city with about 166,000 inhabitants. Located where the Swiss, French and German borders meet, Basel also has suburbs in France and Germany...
, Zurich
Zürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
, Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
, and New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
from 1984 until 1998. He joined UBS as part of the Private Banking Division for Asia and Europe before becoming Head of Wealth Management International in 2002. He was appointed to the GEB in July 2005, and currently holds the Chairman post.
Raoul Weil relinquished his duties pending the resolution of the ongoing investigation of UBS's US cross-border business by the United States Department of Justice
United States Department of Justice
The United States Department of Justice , is the United States federal executive department responsible for the enforcement of the law and administration of justice, equivalent to the justice or interior ministries of other countries.The Department is led by the Attorney General, who is nominated...
which resulted in his indictment on 12 November 2008.
Other activities
Raoul Weil is a member of the Optimus Foundation; a charitable foundation administered by UBS which helps with disease prevention and education across the world.Fugitive From Justice
On January 13, 2009, in an article about the Bernard MadoffBernard Madoff
Bernard Lawrence "Bernie" Madoff is a former American businessman, stockbroker, investment advisor, and financier. He is the former non-executive chairman of the NASDAQ stock market, and the admitted operator of a Ponzi scheme that is considered to be the largest financial fraud in U.S...
scandal, the Associated Press
Associated Press
The Associated Press is an American news agency. The AP is a cooperative owned by its contributing newspapers, radio and television stations in the United States, which both contribute stories to the AP and use material written by its staff journalists...
reported "In an separate case also affecting wealthy investors, former UBS AG wealth management head Raoul Weil was formally declared a fugitive on Tuesday after failing to surrender to U.S. authorities on charges of conspiring to help wealthy Americans hide assets to avoid paying taxes." Weil's attorney Aaron Marcu says his client is not guilty of the charges. Another private banker for UBS, Brad Birkenfeld
Brad Birkenfeld
Brad Birkenfeld is an American banker who formerly worked for UBS, Switzerland's largest bank.He is the first person to expose what has become a multi-billion dollar international tax fraud scandal over Swiss private banking. Despite his unprecedented, extensive and voluntary cooperation, and...
, was indicted on similar charges in May 2008 and later pleaded guilty.