Almost 37 percent of UBS’s 65,233 employees worked in the Americas at the end of 2009. UBS’s Wealth Management Americas unit managed 690 billion Swiss francs ($604 billion) at the end of the year. Switzerland agreed in August 2009 to hand over data on as many as 4,450 UBS clients suspected of tax evasion to the U.S. Internal Revenue Service. Parliamentary approval became necessary after a court ruled in January that the agreement couldn’t be enforced as it then stood. A referendum would have meant a deadline for disclosure of the information was missed...
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