|Hold For Release
9:00a.m. Eastern Daylight Time
June 9, 1998
|Independent Committee of Eminent Persons
List of Audited Banks Released
| In response to public media interest in Switzerland and abroad, the Independent Committee of Eminent Persons released the names of the Swiss banks where the four international audit firms mandated by the Committee are now conducting the Second Phase of the forensic accounting investigation of dormant accounts in Swiss banks from the World War II and pre-war period. These four firms - Arthur Andersen, Coopers & Lybrand, KPMG and Price Waterhouse - are currently working at the three largest banks - Credit Swiss, Swiss Bank Corp., and Union Bank of Switzerland and their affiliates - as well as at twenty-four private and cantonal banks where the investigation has already begun or is about to begin. (See attached list.)
The priorities for the selection of the banks are based on size, geographic location, and the desire for representation of different types of banks. The purpose of the investigation is to identify any dormant accounts of victims of Nazi persecution and others that were deposited in Swiss banks before 1946 and unclaimed thereafter.
The Committee's target is to complete the major elements of its investigation by the end of this year. The investigation is time consuming, especially at the largest three Swiss banks, because of the extensive but also widely disbursed and incomplete documentary record that remains from the war-time and pre-war period.
The forensic audit work now underway at these three banks is expected to continue for the remainder of the year. However, the investigation at smaller banks should be completed more expeditiously, with new banks added as the first audits are completed.
|* * *
|Second Phase Onsite Forensic Audit Investigation
for Dormant Accounts in Swiss Banks
Banks Selected for Audit
(as of June 1, 1998)
Banca dello Stato del Cantone Ticino
Bank Falck & Co. AG
Bank Sarasin & Cie
Bordier & Cie
Coutts Bank (Schweiz) AG
Dreyfus Söhne & Cie AG, Banquiers
E. Gutzwiller & Cie Banquiers
Gonet & Cie
La Roche & Cie., Banquiers
Landolt & Cie, Banquiers
Mirabaud & Cie
Rahn & Bodmer, Banquiers
St. Gallische Kantonalbank
Swiss Bank Corporation
Union Bank of Switzerland
Wegelin & Co. Gesellschafter Bruderer, Hummler & Co.
|The Independent Committee of Eminent Persons
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