Swiss banking major UBS is reportedly planning to recruit private bankers in France even as it faces a possible record sanction on allegations that it aided wealthy French clients evade taxes.
The bank is also seeking to boost its France International unit by hiring a person to oversee business with ultra-wealthy families and two client advisers, reported Bloomberg.
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Tim Cobb, a Zurich-based spokesman for UBS, said: "We are continuously looking at the market to maintain a candidate pipeline for client advisers at the unit."
Additionally, UBS said it will continue to invest in Western Europe to compensate for pulling out billions of francs by western European clients who hide accounts from tax authorities.
UBS said: "Candidates for the more senior role being advertised should ensure systematic risk management and strict compliance with all relevant regulations as well as helping bankers develop new business. Client advisers should have solid knowledge of regulations and procedures affecting French customers."
Recently, UBS has paid 1.1bn ($1.4bn) security deposit for allegedly helping wealthy French clients evade taxes from 2004 to 2012.
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By GlobalDataAlso, UBS could face a fine of $6.3bn if found guilty of helping wealthy French clients hide money in offshore accounts.
