Credit Suisse CEO fights back on tax evasion claims

Credit Suisse's chief executive will hit back at allegations the Swiss bank was a willing accomplice in U.S. tax evasion on Wednesday, blaming instead a small group of its private bankers for helping Americans conceal their wealth. Brady Dougan will tell U.S. senators that Credit Suisse only uncovered "scattered evidence" of improper conduct, and its top managers were not aware that a small group of Swiss-based private bankers helped U.S. customers hide income and assets. "We deeply regret that - despite the industry-leading compliance measures we have put in place - before 2009, some Credit Suisse private bankers appear to have violated U.S. law," Dougan said in prepared remarks, released before his appearance later on Wednesday in front of a U.S. Senate subcommittee on offshore tax evasion. "The evidence showed that some Swiss-based private bankers went to great lengths to disguise their bad conduct from Credit Suisse executive management."

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