Vontobel, the Swiss private bank, reportedly has set up a new unit to deal with the declared money of US holders of offshore accounts. Seems a pretty smart move to me. Here is the link to that story.

Vontobel has not been very forthcoming in telling us more about its venture. A mistake. If Swiss banks want to shift perceptions of their industry, they need to be friendlier to those of us who have no desire to see that sector suffer. So come on guys, let's hear more!